Dominican Republic savers increasingly turn to U.S. dollars

An increasing number of citizens in the Dominican Republic are choosing to save in U.S. dollars to protect their wealth against inflation and the depreciation of the Dominican peso. According to data from the Superintendency of Banks, nearly 30% of all savings and deposits in the country's financial system are now held in foreign currency.

This trend is driven by both stability and practical necessity. Many savers use the dollar to preserve value over time, while others hold the currency to match future financial obligations, such as purchasing assets priced in dollars. Banking integration is significant, with 21.9% of the credit portfolio denominated in U.S. dollars.

Financial experts note that while dollar-denominated savings offer a way to diversify resources and prepare for international transactions, the strategy requires sufficient financial capacity and careful planning. Experts advise that individuals should maintain discipline and ensure that such savings do not compromise funds needed for basic household expenses.