Spanish
The Monetary Board approved on March 24th of this 2025, to put into effect on May 1st, to cap loans in dollars for non-foreign exchange generators, amid a shortage of the US currency in the country, while external economists recommended a massive injection of dollars into the market by the entity.
Now (four months later), the Central Bank faces a new problem, an excessive and constant rise in the price of the dollar that worries economic sectors and the population in general, due to the inflationary effects in chain that the rise of the US currency generates.
Last week, the dollar rate reached a price of over 64 pesos per one in the main financial entities of the country, which generated alarm.
Faced with this situation, the Central Bank of the Dominican Republic announced that it is preparing to take measures in the coming days to counteract the rise of the dollar against the Dominican peso.
To this end, the Central Bank and the Monetary Board have held meetings in recent days with sectors of the government's economic team and the business sector, so that the measures are as comprehensive and effective as possible.
With the measure taken in May, which sought to allow foreign currency generators, defined as those who receive majority income from abroad (tourism, free zones and the export sector in general) to access foreign currency loans without limit.
To this end, it limited non-currency generators (importers and companies or individuals who receive earnings in pesos) to access foreign currency loans, in consolidated terms, up to an amount equivalent to 25% of the total foreign currency deposits and financing obtained by each financial intermediation entity.
Also with the Superintendency of Banks, so that the measures are effectively implemented through the Financial Intermediation Entities.
