After the opening of the trading session, the US dollar traded at the opening at 54.78 Dominican pesos on average, which was 0.04% compared to the value of the previous day, when it reached 54.80 Dominican pesos on average.
Taking into account last week, the US dollar accumulated a rise of 0.15%; on the contrary, in the last year it still maintains a decline of 3.51%. In relation to past days, it reverses the result of the previous day, where it closed with a rise of 0.22%, proving unable to establish a clear trend in the last few days. Volatility for the last week shows a visibly lower balance than the volatility reflected in last year's data, which shows that its price is showing less alterations than usual lately.
In the annual photo, the US dollar has even changed by a high of 57.67 Dominican pesos on average, while its lowest level has been 53.74 Dominican pesos on average. The US dollar is closer to its low than its maximum.
The Dominican currency The Dominican
peso is the official currency of the Dominican Republic is abbreviated as PDO and its creation dates back to 1971 after the breaking of the gold standard. At first it was called as “gold peso” or “Dominican gold peso”.
In 2010, an amendment was made to the Constitution to define that “The national monetary unit is the Dominican Peso”; after that, in 2017 a gradual replacement of banknotes and coins began with the old Dominican peso inscriptions.
The banknotes currently in circulation are 50, 100, 200, 500, 1,000 and 2,000 pesos oros. The 5 and 10 peso notes stopped circulating and were replaced by coins of 5, 10 and 25 pesos respectively. Meanwhile, the 500 and 2,000 pesos gold banknotes were issued on the occasion of the 500th anniversary of the discovery of America and the arrival of the new millennium.
It should be noted that all banknotes bear the phrase: “This banknote has liberatory force for the payment of all public or private obligations”.
In the economic sphere, the Central Bank announced that the country closed 2021 with a Gross Domestic Product (GDP) of 12.3%, reflecting the economic recovery. It also stood at 4.7% in 2021 compared to 2019, which speaks of a return to pre-pandemic levels.
On the other hand, the coronavirus pandemic has affected the Dominican Republic when talking about inflation, as the rate stood at 8.5% at the end of 2021. By 2022, the Central Bank estimates that the GDP of the Dominican Republic could increase between 5.5% and 6.0%.
Agencies
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