Explain the advantages and disadvantages of depreciating the dollar

Officials and businessmen explained the pros and cons of this Depreciation of the dollar in relation to the stability of the economy Dominican.

On the one hand, the President National Council of Private Enterprise (CONEP), Pedro BrachFor importers, the dollar’s decline means “help.”

“It helps importers of raw materials to the Dominican Republic, too inflammation Not too much and the fuel has not yet risen, we have to find a balance, because I think they will start to affect the import sectors, so I understand that we have to look for a balance already, “said Brach. Journalists.

On the other hand, the manager Reserve Bank (Panreservas) Samuel Perera, He explained that coin producers could be affected by a fall in the US currency.

“There are sectors like free zones, tourism, foreign currency generators, the peso’s value may affect them, but it’s a global situation; it’s happening everywhere,” Pereira added.

Pereira and Brach both agreed that “the value of the Dominican peso” was, in general, a benefit to the national economy.

to reduce prices

while, People’s Liberation Army political leader, Rafael Bass, He said the government should take advantage of the current situation to bring down the high prices of basic basket products.

“What we need to achieve in the short term is that these reductions in the dollar rate and the reduction in international markets for food products such as cooking oil and pasta translate into prices in the Dominican Republic. The basic basket is around 42,500 pesos today,” Bass added.

The reports were collected at the opening ceremony of the fifth edition of the multi-disciplinary trade fair HUB SD Camera 2022It is organized by the Santo Domingo Chamber of Commerce.