Dominican Republic: dollar opening price today May 16 from USD to DOP

The US dollar is trading at the opening at 55.05 Dominican pesos on average, so it represented 0.04% when compared to the price of the previous session, when it was quoted at 55.03 Dominican pesos on average.

If we consider the data of the last seven days, the US dollar registers a rise of 0.24% although, on the contrary, in year-on-year terms it still maintains a decrease of 3.22%. Regarding the changes of this day with respect to previous days, it reverses the result of the previous day in which it experienced a decrease of 0.05%, being unable to establish a trend lately. The volatility of the last seven days presents a visibly lower balance than the volatility shown by the figures of the last year, so we can say that it is going through a period of greater stability recently.

In the annual photo, the US dollar has been exchanged at a maximum of 57.67 Dominican pesos on average, while its lowest level has been 53.74 Dominican pesos on average.

The Dominican peso is the official currency of the Dominican Republic, it is abbreviated as DOP and its creation dates back to 1971 after the rupture of the gold standard. At first it was called “peso oro” or “Dominican gold peso”.

For the year 2010, a modification was made to the Constitution to define that “The national monetary unit is the Dominican Peso”; After that, in 2017 a gradual substitution of bills and coins began with the old inscriptions of Dominican pesos.

The bills that are currently in circulation are 50, 100, 200, 500, 1,000 and 2,000 gold pesos. The 5 and 10 peso bills ceased to circulate and were replaced by 5, 10 and 25 peso coins, respectively. Meanwhile, the 500 and 2,000 gold peso bills 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 the bills bear the phrase: “This bill has liberating 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%, as a reflection of the economic reactivation. Likewise, it 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, since the rate stood at 8.5% at the end of 2021. For this 2022, the Central Bank estimates that the GDP of the Dominican Republic could increase between 5.5% and 6.0 percent.

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