Dominican Republic: closing rate of the euro today March 13 from EUR to DOP

During the last day, the euro was traded at the close of 58.93 Dominican pesos on averagewhich implied a variation of 0.33% compared to the price of the day before, when it marked 58.73 Dominican pesos on average.

With reference to the profitability of the last seven days, the euro marks an ascent of 1.27%so that in the past year it still maintains a rise of 4.06%.

Comparing this data with that of previous days, it added three consecutive days in positive numbers. Last week, volatility was at 15.56%, which is a slightly higher number than the annual volatility data (15.43%), presenting as a strength with bigger changes than expected.

He The Dominican peso is the official currency of the Dominican Republic It is abbreviated as DOP and its creation dates back to 1971 after the breakdown of the gold standard. At first it was called “golden peso” or “Dominican gold peso”.

For the year 2010, an amendment was made to the Constitution to define that “The national monetary unit is the Dominican peso”; after that, in 2017, a gradual replacement of banknotes and coins with the old Dominican peso inscriptions began.

The banknotes currently in circulation are 50, 100, 200, 500, 1000 and 2000 gold pesos. 5 and 10 peso notes ceased to circulate and they were replaced by coins of 5, 10 and 25 pesos respectively. Meanwhile, the 500 and 2,000 gold peso notes were issued on the occasion of the 500th anniversary of the discovery of America and the arrival of the new millennium.

It should be noted that all invoices bear the words: “This invoice commits the payment of all public or private obligations”.

In the economic branchThe Dominican Republic presented a strong performance in 2022 which was marred by weak revenue growth due to higher prices due to the inflationwhich shot outside the Central Bank’s target range.

This situation too caused a budget deficit due to unexpected subsidies to compensate for price increases, while the conflict in Europe also played a role, since the Dominican Republic is a net importer of oil, natural gas, soybeans, sorghum, wheat and corn .

According to the latest forecasts of the Economic Commission for Latin America and the Caribbean (Cepal), after progress made in 2022 after the crisis caused by the coronavirus pandemic, by 2023, a decline or exhaustion of the rebound effect is expected in recovery.

In the special case of the Dominican RepublicIt is expected that in 2023, the country will maintain its good growth and realize that the gross domestic product (GDP) reaches 4.7%.