Dollar: Closing price today August 9 in Dominican Republic

he US Dollar Quoted from the conclusion 59.48 Dominican Peso on averageThis represents a change of 1.22% compared to 58.77 pesos from the previous session.

If we look at last week’s data, US Dollar Records an increase in 0.41%%So since a year ago there is still a rise. 5.27%.

If we compare the figure with the previous days, with this value the negative line that characterized the previous two days was stopped. The volatility rate reached 18.4%, which is clearly higher than the annual volatility figure (11.18%), indicating that it is going through a phase of instability.

The Macroeconomic Panorama report, prepared by teams from the Ministries of Economy and Finance and the Central Bank, expects the closing and average inflation rates to remain at 4 percent this year. Nominal GDP growth is expected to reach 8.94 percent.

The same report indicates that real GDP expansion this year is expected to range between 4.50% and 5.00%, with a central forecast of 4.75%.

he The Dominican Peso is the official currency of the Dominican Republic. It is abbreviated as DOP and dates back to 1971 after the dissolution of the gold standard. It was initially called the “golden peso” or “Dominican gold peso”.

In 2010, an amendment to the Constitution was made to specify that “the national monetary unit is the Dominican peso.” Then, in 2017, the gradual replacement of old Dominican peso denominations on bills and coins began.

The banknotes currently in circulation are 50, 100, 200, 500, 1,000 and 2,000 euro pesos. 5 and 10 peso banknotes discontinued They were replaced by coins of 5.10 and 25 pesos respectively. At the same time, gold banknotes of 500 and 2,000 pesos were issued to mark the 500th anniversary of the discovery of America and the arrival of the new millennium.

It is worth noting that all bills bear the phrase: “This law has the liberating power to pay all public or private obligations.”

In the economic branchThe Dominican Republic delivered a strong performance in 2022, overshadowed by lower income growth due to price increases due to economic inflationWhich was launched outside the Central Bank’s target range.

This case too caused a financial deficit Due to unexpected subsidies to counter rising prices, while the conflict has also affected Europe, as the Dominican Republic is a net importer of oil, natural gas, soybeans, sorghum, wheat and corn.