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
Culture of the Dominican Republic lower class, black and mixed populations. They can be seen in different regions of Dominican Republic, but with variations. Salsa music has had a great deal of popularity in the country. During the late 1960s Dominican native Johnny Pacheco, creator of the famed Fania All Stars, played a significant role in the music's development and popularization, and is also credited for coining the term "Salsa" to denote the genre. Dominican rock is also popular among younger and not so younger crowds of the Dominican Republic. Dominican rock is influenced by British and American rock, but also has its own sense