Contrary to the trend of many central banks around the world for several years of buying increasingly more gold to hold it as a safe-haven asset, the Central Bank of the Dominican Republic maintains a minimum amount equivalent to 0.47 tons, which has not changed for decades.
At the close of 2024, the Dominican Central Bank reported among its assets some US$47.7 million in gold as a reserve, which is equivalent to RD$2,907 million pesos.
These values would correspond to 0.57 tons of gold, which have not changed since the year 2000, according to the Trading Economics platform.
At the close of 2023, these values were RD$2,199 million. The amount of gold did not change, rather it was revalued.
The instability and exchange rate uncertainty that has characterized this year 2025 has led increasingly more investors and central banks worldwide to choose gold as a safe-haven asset, since the values of this precious metal are not as conditioned by geopolitical and monetary conditions as the dollar.
However, the Dominican Republic does not have a monetary system backed by this metal.
The largest amount of the Central Bank’s reserves are in cash dollars, which help it, much more than gold, to maintain the value of the Dominican peso.
Currently the Central Bank has US$14,793.3 million in international reserves.
However, other central banks, mainly Asian ones, are buying gold, which has been termed the “gold fever”.
According to data from the World Gold Council, in the last three years central banks around the world bought more than 1,000 tons annually, more than double the 400 to 500 tons annual average they had bought in the previous ten years.
In May of this year, the National Bank of Kazakhstan led gold purchases by acquiring 7 tons, raising its reserves to 299 tons.
Central banks such as those of Turkey and Poland bought 6 tons each that month.
The People’s Bank of China and the Czech National Bank added 2 tons each, along with the National Bank of the Kyrgyz Republic.
