Central Bank of the Dominican Republic Central Bank of the Dominican Republic The Central Bank of the Dominican Republic (, BCRD) was established by the Monetary and Banking Law of 1947 as the central bank of the Dominican Republic, responsible for regulating the country's monetary and banking system.The Banks headquarter is in Santo Domingo and current governor is Héctor Valdez Albizu. Organic Law no. 6142 of December 29, 1962, authorized the central bank to promote and maintain favorable monetary, foreign exchange and credit conditions for the stability and development of the national economy. The central bank's functions include regulating market liquidity levels by: determining deposit reserve
People of the Dominican Republic time mostly from the lower-class. Today, emigration from the Dominican Republic remains high, facilitated by the social networks of now-established Dominican communities in the United States. Besides the United States, significant numbers of Dominicans have also settled in Spain and in the nearby U.S. territory of Puerto Rico. The culture of the Dominican Republic, like its Caribbean neighbors, is a blend of the cultures of the European colonists, African slaves, and Taíno natives. Spanish is the official language. Other languages, such as English, French, German, Italian, and Chinese are also spoken to varying degrees. European, African, and Taíno cultural elements