Dollar: closing price today, January 4, in the Dominican Republic

After opening lower, the Dominican peso depreciated at the close of trading on January 4, trading lower against the US dollar. The United States currency has recovered more than half a percentage point of its value against the Dominican Republic currency.

The US dollar was paid at the close at an average of 58.12 Dominican pesos, implying a change of 0.69% from the average of 57.72 Dominican pesos in the previous session.

According to Bloomberg, the lowest price that the US currency presented during the day was 57.95 Dominican pesos per unit. While the highest price of the North American currency during the session was 58.33 Dominican pesos per unit.

Referring to the profitability of the last week, the US dollar accumulates an increase of 0.99%, so much so that in the last year it still maintains an increase of 6.43%.

By analyzing this data with that of the previous days, three consecutive dates of increase were accumulated. The volatility of the last week is lower than the data obtained in the last year (10.64%), which shows that it can be said to be going through a period of greater stability in the last few days.

The Dominican Republic is one of the countries that receives the most dollar remittances (EFE/Lenin Nolly)

The Macroeconomic Panorama report, produced by the Ministries of Economy, Finance and the Central Bank, predicts that by 2024 both final and average inflation will remain at 4%.

Nominal gross domestic product (GDP) growth is estimated at 8.94%. The same document indicates that real GDP expansion of between 4.50% and 5.00% is expected this year, with a central projection of 4.75%.

Regarding monetary policy, the Central Bank of the Dominican Republic ended the year with a preferential rate of 7%, which will be crucial for the exchange rate.

The Dominican peso is the official currency of the Dominican Republic, abbreviated to DOP and its creation dates back to 1971 after the breakdown of the gold standard. It was initially called “golden peso” or “Dominican gold peso”.

The banknotes currently in circulation are 50, 100, 200, 500, 1,000 and 2,000 oro pesos. The 5 and 10 peso notes ceased to circulate and were replaced by 5.10 and 25 peso coins respectively. Meanwhile, on the occasion of the 500th anniversary of the discovery of America and the arrival of the new millennium, gold banknotes of 500 and 2,000 pesos were issued.

It should be noted that all bills bear the phrase: “This bill has liberating force for the payment of all public and private obligations.”

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2024-01-04 20:45:00
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