Dominican Peso

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DRVisitor Serial expat

Member since 20 December 2019

DRVisitorSerial expat18 August 2022 17:53:34

712

Any reason for increase against US or Canadian dollars?

Other currencies vs US dollars been going down greatly (ie Euro or Pound)

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert18 August 2022 18:12:28

17122

That's a very good question! I do not know the answer.

arezkiofstow Member

Member since 04 January 2022

arezkiofstowMember18 August 2022 18:45:52

I think this may be a function of the most recent interest rate adjustments made by Dominican financial authorities. The DR central bank is expected to continue to tweak interest rates and folks are anticipating more appreciation and increase in the value of the pesos in the months ahead. There is no relation to the strength of thr domonkcan economy, more about ratss. So it may be a good time to buy pesos now. As for Euro vs US, it is the opposite with dollar reaching parity with euro due to fiscal policy and rate adjustments.

DRVisitor Serial expat

Member since 20 December 2019

DRVisitorSerial expat18 August 2022 19:07:48

712

I had not paid attention but since arezkiofstow brought up interest rates, they have raised them quite a bit this year. Has much been made in the news on interest rates?

Dominican Republic - Key rates
Date Key rates
08/01/2022 7.75%
07/01/2022 7.25%
06/01/2022 6.50%
04/01/2022 5.50%
02/01/2022 5.00%
01/01/2022 4.50%
12/01/2021 3.50%
09/01/2020 3.00%
03/01/2020 3.50%

Browneyegirl Member

Member since 06 July 2022

BrowneyegirlMember18 August 2022 19:13:55

@DRVisitor

I am not sure but it is the same with interest rates in the US. They are much much higher than in 2020.

arezkiofstow Member

Member since 04 January 2022

arezkiofstowMember18 August 2022 19:58:36

@DRVisitor and they plan to continue to raise them at a faster rate than US, making peso more expansive. That’s a multiple month move.

Tippj Serial expat

Member since 12 February 2022

TippjSerial expat18 August 2022 20:16:36

563

The peso is expected to trade at $55.40 in the next 12 months according to economics global ….. but the Forex (Foreign exchange ) is updated every 5 min by very smart highly technical analysis …. You can view this on Walletinvestor.com if you want to hedge your bet

Oscarsahony Sanchez Contributor

Member since 09 July 2021

Oscarsahony SanchezContributor18 August 2022 21:36:32

188

53.63 closing rate today,i use stockmaster to track my stocks

have a great afternoon

Tippj Serial expat

Member since 12 February 2022

TippjSerial expat19 August 2022 01:47:08

563

Walletinvestor.com is only for exchange rates information for those that like to invest in currency , like the pesos, pound or ruble….. what goes down sometimes goes back up…..otherwise I would suggest Fidelity and TDamritrade….

Tippj Serial expat

Member since 12 February 2022

TippjSerial expat19 August 2022 01:48:50

#10

563

Tomato tomoto

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert19 August 2022 10:27:52

#11

17122

Please stick to discussion of the topic. Thanks everyone.

Karin1 Serial expat

Member since 02 June 2021

Karin1Serial expat22 August 2022 04:04:15

#12

347

@arezkiofstow

I checked today and the euro was lower than the us dollar. Wow

Karin1 Serial expat

Member since 02 June 2021

Karin1Serial expat22 August 2022 04:36:44

#13

347

@Tippj

Peso has gone down alot compared to the USD or Canadian $, ie, we can buy alot more per dollar than when we did in 2019. I dont understand how its so steady and predicted to stay the same for the next year. Lets see what happens.

DominicanadaMike ViP

Member since 21 July 2015

DominicanadaMikeViP22 August 2022 05:59:32

#14

1049

Here is an interesting chart to look at: https://www.xe.com/currencycharts/?from … p;view=10Y

The Canadian dollar is about the same now as it was 10 years ago. However, in the past year the Canadian dollar has dropped significantly against the peso. In May of last year we were getting just over 47 pesos for a dollar and now its just over 41.

It's a rollercoaster but not much we can do unless you want to get into trading...

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