Valdez Albizu speaks out
The governor of the Central Bank, Hector Valdez Albizu, has denied that the authorities are planning to stimulate an increase in the exchange rate in order to bring about a shift in the economy. Valdez Albizu indicated that the exchange rate has been stable throughout the year, barely experiencing 2% depreciation, less than the accumulated inflation rate to July, which was 3.22%. He maintained that this is a clear reflection that the exchange rate has performed below the inflation rate.
In another issue, the governor stressed that there are no monetary or financial reasons that should alter the stability of the exchange rate. He noted that normally in the months of August and September, for seasonal reasons, there is a slight increase in the demand for dollars, which is considered normal. Nonetheless, the Central Bank governor said that this year the tourism sector showed a significant 6.16% increase in [...]
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