rate is all over the place
Re: Exchange Rate In DR: May 2005
35 is the best I ever seen it , and I only been goinf since 11/06. Will be back in 5 more weeks.
Re: Exchange Rate In DR: May 2005
Got 34.8 yesterday over by Playero
Re: Exchange Rate In DR: May 2005
SOSUA NEWS
14 December 2008
Peso comes under pressure
Since Dominicans abroad are sending less money (dollars and euros) home to the families here, tourism is falling slightly, and exports (of bananas to Europe, for example) have dropped, there is less foreign currency in the country.
The Dominican Republic imports almost everything, and needs to pay for these items in dollars or euros. As there is less foreign currency coming into the country, this pushes up the peso. In order to buy dollars for imports, companies are now paying more pesos for foreign currency.
In order to prevent this, the national bank plans to keep the peso stable (at 35.5 per dollar) by injecting 50-100 million dollars into the market. However, if the crisis continues for a long period, the central bank will not have sufficient funds to continue this strategy. So, at some point, the peso will probably be devalued.
http://www.sosuanews.com/news_pictur...4-12_money.jpg
Tourists will temporarily find prices lower, as they get more pesos for their dollars or euros, but, the import situation will mean that prices will rise quickly, and tourists will not really benefit.
However, for Dominicans (who are paid in pesos) this will be disastrous - they will see prices in the shops being doubled, but their salaries don't keep up with inflation.
Re: Exchange Rate In DR: May 2005
Quote:
Originally Posted by
psriches
SOSUA NEWS
14 December 2008
Peso comes under pressure
Since Dominicans abroad are sending less money (dollars and euros) home to the families here, tourism is falling slightly, and exports (of bananas to Europe, for example) have dropped, there is less foreign currency in the country.
The Dominican Republic imports almost everything, and needs to pay for these items in dollars or euros. As there is less foreign currency coming into the country, this pushes up the peso. In order to buy dollars for imports, companies are now paying more pesos for foreign currency.
In order to prevent this, the national bank plans to keep the peso stable (at 35.5 per dollar) by injecting 50-100 million dollars into the market. However, if the crisis continues for a long period, the central bank will not have sufficient funds to continue this strategy. So, at some point, the peso will probably be devalued.
http://www.sosuanews.com/news_pictur...4-12_money.jpg
Tourists will temporarily find prices lower, as they get more pesos for their dollars or euros, but, the import situation will mean that prices will rise quickly, and tourists will not really benefit.
However, for Dominicans (who are paid in pesos) this will be disastrous - they will see prices in the shops being doubled, but their salaries don't keep up with inflation.
This next year in the DR should be interesting to say the least.
Usually when the peso loses value and the american dollar rises, so do the chica prices. However, with this depression, tourism is going to be way down compared to years past. So, its hard to see how 500 chicas that go home each night alone can really afford to raise their prices to compensate the devalueing of the peso.
Should be an interesting year, to see what happens.
Re: Exchange Rate In DR: May 2005
Crime will be on the rise, putas are going to be desperate and maybe the non pro action will go thru the roof.
Re: Exchange Rate In DR: May 2005
The rules for supply and demand will eventually kick in.
Re: Exchange Rate In DR: May 2005
just check on line looks like the Dollar is gaining on the peso
Monday, January 12, 2009
1 US Dollar = 36.73484 Dominican R. Peso :eek:
Re: Exchange Rate In DR: May 2005
Quote:
Originally Posted by
uncle226
just check on line looks like the Dollar is gaining on the peso
Monday, January 12, 2009
1 US Dollar = 36.73484 Dominican R. Peso :eek:
In Sosua last week they were paying between 35.1 and 35.2.
Yahoo is showing the exchange at 35.35 today (jan.12) http://finance.yahoo.com/currency-co...submit=Convert
Re: Exchange Rate In DR: May 2005
Quote:
Originally Posted by
Choirboy
Thats what it was on XE but it was 36.1 Friday
Re: Exchange Rate In DR: May 2005
Quote:
Originally Posted by
Hoseman
[/URL] Thats what it was on XE but it was 36.1 Friday
What it says on XE and what you can get in Sosua are two different things.
Re: Exchange Rate In DR: May 2005
Quote:
Originally Posted by
Choirboy
What it says on XE and what you can get in Sosua are two different things.
Yeah I know but I use it as a guide.