Euro closing value in Dominican Republic on August 8 from EUR to DOP

he euro Negotiated at closing 65.02 Dominican Peso on averageThis represents a change of 0.6% compared to the previous day’s value when it closed at 64.63 pesos.

And last week, euro Register for promotion 1.99%%so it still accumulates an increase since last year. 7.25%.

Compared to the previous days, the tables have turned for the previous session, which recorded a decline of 2.14%, which recently showed instability in the result. The volatility figure is significantly higher than the figure achieved last year (11.2%), so it shows more unstable behavior.

The Macroeconomic Panorama report, prepared by teams from the Ministries of Economy and Finance and the Central Bank, forecasts that by 2024, the final and average inflation rates will reach 4 percent. Nominal GDP growth is expected to reach 8.94 percent.

The same report indicates that this year, real GDP is expected to expand 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.”

Regarding the economyThe 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.