Includes how foreign exchange is managed and implications for U.S. business;
Last Published: 11/21/2019

The Monetary Board sets monetary policy and oversees Central Bank operations.  It also sets banking and financial norms through resolutions.
All foreign exchange transactions operate in the private market where all sectors of the Dominican economy are free to buy and sell foreign exchange through commercial banks and exchange houses (casas de cambio).  The currency has a floating exchange rate which is currently around RD$52.74 per US$1.00.

US Banks & Local Correspondent Banks
The only full-service U.S. commercial bank in the Dominican Republic is Citibank, N.A.
Address: Ave. Winston Churchill Esq. Ave. Andres Jose Aybar
Torre Citibank, Acropolis Center – 24th Floor, Ens. Piantini
Santo Domingo, Dominican Republic
Tel: 809/ 473-2404
Fax: 809/ 955-2657
Website: http://www.citigroup.com/citi/about/countrypresence/dominican-republic.html
Most local banks have correspondent banking relationships in the U.S.
 

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