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peso |
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peso 1. the standard monetary unit, comprising 100 centavos, of Argentina, Chile, Colombia, Cuba, the Dominican Republic, Mexico, and the Philippines; formerly also of Guinea-Bissau, where it was replaced by the CFA franc 2. the standard monetary unit of Uruguay, divided into 100 centesimos 3. another name for piece of eight How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The sliding exchange rate established by predecessor Hipolito Mejia's administration took the value of the Dominican peso against the dollar from 16 to 1 in the year 2000 to more then 50 to 1 by mid-2004. In light of the severe deterioration in the operating environment during 2003 and 2004, BDP implemented a proactive credit collections policy to reduce its credit risk, while the sudden Dominican Peso (DOP) revaluation since the second half of 2004 resulted in a 22% reduction in the gross loan portfolio. |
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