International Reserves in Dominican Republic
Dominican Republic - International ReservesThe economy contracted 7.2% in Q3 according to preliminary data, much milder than Q2’s 16.9% collapse. The softer drop was likely due to an incipient recovery in tourism following the reopening of borders in July. Moreover, remittances surged in the quarter as the U.S. labor market recovered, which should have buttressed private consumption. However, the economic panorama was still downbeat: The hotels, bars and restaurants subsector fell, as visitor arrivals were still down sharply year-on-year, while the retail and transport sectors also declined. Turning to Q4, momentum should be improving, with visitor arrivals likely up from Q3. However, the extension of the curfew in mid-October will continue weighing on domestic activity, while Haiti’s decision to impose a USD 800 fee on the Dominican Republic’s exports will hurt the external sector—Haiti is the country’s second most important trading partner.
Dominican Republic - International Reserves Data
|International Reserves (USD)||5.3||6.0||6.8||7.6||8.8|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic International Reserves Chart
Source: Dominican Republic Central Bank and FocusEconomics calculations
Dominican Republic Facts
|Exchange Rate||52.96||0.80 %||Jan 01|
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January 14, 2021
Consumer prices rose 0.48% over the previous month in December, which was below the 0.60% rise recorded in November.
December 30, 2020
At its end-December meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the fourth month running, following sizable easing earlier in the year. The decision not to cut further was likely influenced by improving domestic dynamics, with the decline in economic activity continuing to moderate through November.
December 29, 2020
Economic activity fell 3.4% compared to the same month of the previous year in November, which was a less pronounced contraction than October's 4.3% decrease and marked the best result since February.
December 14, 2020
Consumer prices increased 0.60% over the previous month in November, a smaller increase than October's 0.66% rise.
November 30, 2020
At its end-November meeting, the Central Bank kept the policy rate at 3.00% for the third month running, following sizable easing earlier in the year.