NewsWhore
02-13-2007, 06:20 PM
In the last two years the dollar has appreciated to the Dominican peso by about RD$4.00 which translates into a devaluation of the peso of 12%. Free trade zone (FTZs) representatives believe that the local currency is still overvalued and estimate that the devaluation should be at around 16%, which would place the exchange rate at RD$39.00, as opposed to the current rate of RD$33.55. Jose Manuel Torres, executive director of the Dominican Association of Free Trade Zones (Adozona), says that business people want macro-economic stability but feel that the exchange rate is still too high. Torres does however acknowledge the impact of increased competition from China, especially in the area of textile exports.
More... (http://www.dr1.com/index.html#9)
More... (http://www.dr1.com/index.html#9)