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Economy & Business - June 2005
DOMINICAN REPUBLIC: Swings and roundabouts from peso recovery
The recovery of the peso against the dollar has helped to lower the inflation rate. The rise in the peso has more than compensated for the dollar increase in fuel and oil prices. Indeed in May petrol prices fell by 2%, despite the strength of the international oil price. The downside to the peso's strength is mainly being felt by the textile industry which has been priced out of the exports markets. A secondary casualty is the fall in the peso value of import duties and commissions on exchange controls.
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