Dollar shortages persist following investments by the central bank

Dollar shortages persist following investments by the central bank

Business

Owing to the dollar’s scarcity due to the consequences of the coronavirus pandemic, the country’s banks have further limited the selling of the US currency, which exceeded the barrier of 58 pesos per one on Wednesday.
During a tour of financial institutions, it was confirmed in some areas that no more than $500 per person was exchanged, while others limited the selling of foreign currency only to clients of the company who are going to pay for financial goods.

And it’s that given the fact that the central bank reported making regular dollar injections to balance the exchange market, the US currency shortage in banks and exchange houses continued this Wednesday.
The currency deficit is due to the economic collapse of the money-producing industries as a result of the coronavirus pandemic, such as tourism and free zones.

In the national budget, it was projected that by the end of 2020, the exchange rate of the dollar would be around 55 pesos and 49 cents. The banks’ dollar exchange rate hovered on average this Wednesday at 56 pesos with 70 to buy and 57 pesos with 95 to sell.

Jason Amato

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