I make multiple deposits every time I go to the DR, usually followed by a withdrawal to another depository institution. Usually, I refuse to deal with the banks down there unless I have at least an 80% interest rate.
I make multiple deposits every time I go to the DR, usually followed by a withdrawal to another depository institution. Usually, I refuse to deal with the banks down there unless I have at least an 80% interest rate.
By many economic measures the peso is currently overvalued. It is being maintained at 36 to the dollar for political reasons rather than purely financial ones. Therefore those people who fear that the peso will be devalued sometime in the near future prefer to keep their money in dollars.
However, political reasons can be just as longterm as financial ones. Look at the infinitely more important question of the Chinese yuan which has been "wrongly" valued for decades according to those same economic criteria.
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