NewsWhore
10-03-2008, 05:40 PM
Despite the global crisis, growth continues at the Dominican Republic Exchange. Trading leaped to RD$25,429,696,170.23 for the first ten months of the year, for a significant 221.31% growth compared to the same period last year. The total volume traded for the year 2007 was RD$15,414,587,959.17
Three new issues were approved during the third quarter: BHD Valores for RD$1 billion with a two to five year maturity; Metro Country Club for US$16 million with a four year maturity and Motor Credit for RD$300 million with a three year maturity.
Darys Estrella, general manager of the Dominican Republic Stock Exchange says that the crisis has not really impacted the Bolsa directly because there is an almost zero correlation between our exchange and the other big exchanges. "Our market continues to be 100% fixed income which means there are no equities listed here that local or foreign investors can sell in times like this. When you see a 700+ point drop in the DOW, our bond prices remain the same," she explained.
Nevertheless, she says the Dominican economy overall could be impacted if remittances, tourism and foreign direct investment drop. "However, the country's remittances and tourism revenues have remained fairly resilient," she comments. According to estimates from the DR Central Bank, during the first half of 2008, tourism revenues increased by 6.3% and remittances increased by 6.6% compared to the same period last year.
For more information, see www.bolsard.com (http://www.bolsard.com/)
More... (http://www.dr1.com/index.html#2)
Three new issues were approved during the third quarter: BHD Valores for RD$1 billion with a two to five year maturity; Metro Country Club for US$16 million with a four year maturity and Motor Credit for RD$300 million with a three year maturity.
Darys Estrella, general manager of the Dominican Republic Stock Exchange says that the crisis has not really impacted the Bolsa directly because there is an almost zero correlation between our exchange and the other big exchanges. "Our market continues to be 100% fixed income which means there are no equities listed here that local or foreign investors can sell in times like this. When you see a 700+ point drop in the DOW, our bond prices remain the same," she explained.
Nevertheless, she says the Dominican economy overall could be impacted if remittances, tourism and foreign direct investment drop. "However, the country's remittances and tourism revenues have remained fairly resilient," she comments. According to estimates from the DR Central Bank, during the first half of 2008, tourism revenues increased by 6.3% and remittances increased by 6.6% compared to the same period last year.
For more information, see www.bolsard.com (http://www.bolsard.com/)
More... (http://www.dr1.com/index.html#2)