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Market Monitor

/Mercado de Dinero\n

\n\n\n

\n\n

Mercado Abierto

\n\n\n

\n\nSesion 23 May 2026 — 14:30 RD\n\nEN VIVO\n

\n\n\n\n\n\n

\n\n

\n🔔\nTienes 2 alertas activas en este modulo: TPM Decision > +25bps, O/N Rate > 8.5%\n\n

\n\n\n

TPM Vigente

7.00%

= Sin cambio

◆ QTECH

O/N Promedio Pond.

7.22%

▲ +3bps

LET 1D Promedio

6.85%

▼ -2bps

Spread O/N vs LET

+37bps

▲ +5bps

◆ QTECH

Vol. BCRD Total

RD$14.2B

▲ +8.4%

Vol. Interbancario

RD$3.8B

▼ -12%

Posicion Neta C-E

RD$-2.1B

▼ Contractiva

◆ QTECH

Tasa CD Prom. Pond.

8.45%

▲ +7bps

AUM Fondos Mutuos

RD$98.7B

▲ +2.1%

Liquidez Sistema

RD$45.3B

▼ -5.2%

◆ QTECH

\n\n\n

Robin — Resumen Ejecutivo

Sesion de contraccion neta RD$2.1B. La tasa O/N subio a 7.22%, ampliando el spread contra LET a 37bps — maximo de 3 semanas. La liquidez del sistema cayo 5.2% y los CDs siguen encareciendo (8.45%, +7bps). Patron consistente con expectativas de TPM sin cambio en proxima reunion. El interbancario cayo 12% en volumen sugiriendo preferencia por instrumentos BCRD sobre prestamos entre pares.

\n\n\n

⚠

TPM: Consenso Hold

85% de instituciones esperan sin cambio

📊

Liquidez en Contraccion

3ra sesion consecutiva con posicion neta negativa

↑

CDs en Alza

Tasa promedio supero 8.4% — nivel de 6 meses

🔍

Spread O/N Ampliandose

37bps vs promedio 30D de 28bps

▼

Vol. Interbancario Bajo

-12% vs promedio semanal — minimo 2 semanas

\n\n\n

Volumen BCRD Diario (30D)

Ultima Sesion

O/N Repos7.22% | RD$8.4B

LET 1D6.85% | RD$3.1B

LET Plazo7.10% | RD$1.8B

Facilidad Prest.8.50% | RD$0.6B

Repos Expans.7.75% | RD$0.3B

Neto Sesion-RD$2.1B

\n\n\n

Composicion por Instrumento

O/N Repos

59%

RD$8.4B

LET 1D

22%

RD$3.1B

LET Plazo

13%

RD$1.8B

Facilidad Prest.

RD$0.6B

Repos Expans.

RD$0.3B

Matriz de Tasas Vigentes

\n\n\n\n\n\n\n\n\n

Instrumento	Min	Prom	Max	Δ 1S
O/N Repos	7.15%	7.22%	7.30%	+3bps
LET 1D	6.80%	6.85%	6.90%	-2bps
LET 7D	6.95%	7.00%	7.05%	+1bp
LET 14D	7.05%	7.10%	7.15%	0
LET 30D	7.10%	7.18%	7.25%	+3bps
Facilidad Prest.	8.50%	8.50%	8.50%	0
Repos BCRD 1-7D	7.70%	7.75%	7.80%	+5bps

Operaciones Recientes

\n\n\n\n\n\n\n\n

Hora	Tipo	Tasa	Monto
14:22	O/N	7.25%	RD$1.2B
13:45	LET 1D	6.85%	RD$0.8B
12:30	O/N	7.20%	RD$2.1B
11:15	LET 7D	7.00%	RD$0.5B
10:00	F.Prest.	8.50%	RD$0.6B
09:30	O/N	7.22%	RD$3.5B

\n\n\n

Datos al: 23 may 2025 · T-1 (dias habiles)

\n\n\n

\n\n

Posicion Neta

-RD$12.4B

▲ Contr. neta

◆ QTECH

Total Contraccion

RD$13.3B

▲ +6.2%

Total Expansion

RD$0.9B

▼ -15%

TPM Vigente

7.00%

= Desde Mar-26

O/N Prom. Ponderado

7.22%

▲ +3bps

Mayor Concentracion

O/N 59%

Del total contr.

\n\n

Robin — Posicion Monetaria BCRD

Sesion con contraccion neta RD$12.4B. La tasa O/N de 7.22% esta 22bps sobre la TPM, reflejando presion de liquidez a corto plazo. El spread O/N vs LET 1D se amplio 5bps esta semana. Las facilidades de expansion se mantienen bajas (RD$0.9B), confirmando que el sistema no necesita inyeccion neta.

\n\n

Contraccion

Vol. O/N

RD$8.4B

▲ +11%

Tasa O/N Prom.

7.22%

▲ +3bps

LET 1D Tasa

6.85%

▼ -2bps

LET Plazo Prom.

7.10%

▲ +1bp

Spread O/N vs LET

+37bps

▲ +5bps

Vol. LET Total

RD$4.9B

▼ -3%

Volumen Diario 30D (O/N + LET)

Tendencia Tasas 90D

\n\n

Ultimos 5 Dias — Contraccion

\n\n\n\n\n\n\n

Fecha	Vol. O/N	Tasa O/N	Vol. LET	Tasa LET 1D	Total	Δ vs Ant.
23 may	RD$8,420M	7.22%	RD$4,900M	6.85%	RD$13,320M	+6.2%
22 may	RD$7,800M	7.19%	RD$4,750M	6.87%	RD$12,550M	-3.1%
21 may	RD$8,100M	7.20%	RD$4,850M	6.86%	RD$12,950M	+2.4%
20 may	RD$7,600M	7.18%	RD$5,050M	6.88%	RD$12,650M	-1.8%
19 may	RD$7,900M	7.15%	RD$4,980M	6.85%	RD$12,880M	+4.1%

\n\n

Expansion

Fac. Perm. Expansion

RD$0.6B

= Estable

Tasa Fac. Expansion

8.50%

= TPM +150bps

Repos a Plazo

—

Sin operaciones

Ratio Exp/Contr

6.8%

▼ Bajo

Facilidades Perm. de Expansion Monetaria (30D)

Repos a Plazo — Maturity Buckets

∅

\nSin operaciones de repos activas actualmente.
Esta seccion se activara cuando BCRD realice operaciones de repos.\n

\n\n

Ultimos 5 Dias — Expansion

\n\n\n\n\n\n\n

Fecha	Vol. Facilidades	Tasa	Vol. Repos	Total Exp.	Δ vs Ant.
23 may	RD$600M	8.50%	—	RD$600M	+5%
22 may	RD$570M	8.50%	—	RD$570M	-8%
21 may	RD$620M	8.50%	—	RD$620M	+3%
20 may	RD$600M	8.50%	—	RD$600M	-2%
19 may	RD$615M	8.50%	—	RD$615M	+7%

\n\n\n\n

Horizonte	Mediana	Promedio	Desv. Est.	Decil 1	Decil 9
Mes actual	7.00%	7.00%	0.00	7.00%	7.00%
Fin trimestre	7.00%	6.95%	0.15	6.75%	7.00%
Fin de ano	6.50%	6.42%	0.32	6.00%	6.75%
12 meses	6.25%	6.18%	0.38	5.75%	6.50%
24 meses	5.75%	5.68%	0.42	5.25%	6.25%

Horizonte	Mediana	Promedio	Desv. Est.	Decil 1	Decil 9
Mes actual	7.00%	7.00%	0.00	7.00%	7.00%
Fin trimestre	7.00%	7.02%	0.12	7.00%	7.25%
Fin de ano	6.75%	6.65%	0.28	6.25%	7.00%
12 meses	6.50%	6.38%	0.35	6.00%	6.75%
24 meses	6.00%	5.92%	0.40	5.50%	6.50%

Factor	Impacto	# Respuestas	% Encuestados	Tendencia
Inflacion local (IPC)	Favorece recorte	18	85%	▼ Convergiendo a meta
Fed Funds Rate	Limita recorte	16	76%	= Estable
Tipo de Cambio DOP/USD	Neutral	14	67%	= Estable
Crecimiento PIB	Favorece recorte	12	57%	▲ Fuerte
Liquidez del sistema	Neutral	10	48%	▼ Apretando
Riesgo fiscal	Limita recorte	8	38%	▲ Creciente
Precios commodities	Favorece recorte	6	29%	▼ Bajando
Expectativas inflacion	Favorece recorte	15	71%	▼ Ancladas

\n\n\n

Robin — Mercado Interbancario

Volumen interbancario cae 12% esta semana a RD$3.8B, minimo de 2 semanas. La curva por plazo se ha empinado: la tasa 1-7D sube solo 2bps pero la de 91+D subio +12bps. Las entidades estan prefiriendo BCRD a corto y solo van al interbancario para plazos mas largos. El Top 5 concentra 74% del volumen, nivel de alerta para concentracion.

Dep. a la Vista

RD$1.2B

▼ -18%

Dep. a Plazo Total

RD$2.6B

▼ -8%

Tasa Prom 1-7D

7.45%

▲ +2bps

Tasa Prom 8-30D

7.80%

▲ +5bps

Tasa Prom 31-90D

8.10%

▲ +8bps

Tasa Prom 91+D

8.55%

▲ +12bps

Term Spread 1-7 vs 91+

+110bps

▲ +10bps

◆ QTECH

Concentracion Top 5

74%

▲ Alta

◆ QTECH

# Operaciones

▼ -6

Curva de Tasas Interbancaria

Vol. por Bucket de Madurez

1-7 Dias

47%

RD$1.8B

8-30 Dias

28%

RD$1.1B

31-90 Dias

18%

RD$0.7B

91+ Dias

RD$0.2B

Ultimas Operaciones Interbancarias

\n\n\n\n\n\n\n\n

Fecha	Plazo	Tasa	Monto	Tipo	Δ vs Prom.
23-May	1D	7.45%	RD$450M	Vista	+3bps
23-May	7D	7.50%	RD$320M	Plazo	+5bps
23-May	14D	7.82%	RD$280M	Plazo	+2bps
22-May	30D	7.95%	RD$200M	Plazo	-5bps
22-May	60D	8.12%	RD$150M	Plazo	+7bps
22-May	90D	8.25%	RD$180M	Plazo	+10bps

\n\n\n\n

Plazo	Vol.	Tasa Min	Tasa Prom	Tasa Max	Δ MoM
30-60D	RD$18B	7.80%	8.05%	8.25%	+5bps
61-90D	RD$32B	8.10%	8.30%	8.50%	+8bps
91-180D	RD$55B	8.30%	8.52%	8.75%	+10bps
181-360D	RD$48B	8.55%	8.78%	9.00%	+12bps
> 360D	RD$32B	8.80%	9.05%	9.25%	+15bps

Plazo	Vol.	Tasa	Share	Δ MoM
30-90D	RD$8.5B	8.15%	20%	+0.5B
91-180D	RD$14.2B	8.42%	34%	-0.8B
181-360D	RD$12.8B	8.65%	30%	+1.2B
> 360D	RD$6.8B	8.95%	16%	+0.3B

\n\n\n

\n\n\n\n

\n\n\n

Robin — Fondos Mutuos

AUM total alcanza record de RD$98.7B (+2.1% MoM). Los fondos de renta fija corto plazo lideran captaciones con RD$1.8B netos esta semana. El rendimiento promedio 30D bajo a 6.2%, presionado por menores tasas en LET. El top 5 concentra 61% del AUM — Popular Valores lidera con RD$18.2B.

AUM Total

RD$98.7B

▲ +2.1%

Rendimiento 30D Prom.

6.20%

▼ -8bps

Rendimiento 90D Prom.

6.45%

▼ -5bps

Rendimiento 180D Prom.

6.72%

▲ +3bps

Dinero Nuevo Neto

RD$1.8B

▲ +45%

◆ QTECH

# Fondos Activos

= Estable

Concentracion Top 5

61%

= Estable

◆ QTECH

Ratio Rescates/AUM

3.2%

▼ Bajo

◆ QTECH

Fondo Mejor Rend. 30D

7.12%

Popular RF CP

Evolucion AUM 12M

Top Fondos por AUM

Popular RF CP

RD$18.2B

7.12%

Reservas RD

RD$14.9B

6.85%

BHD Liquidez

RD$12.4B

6.42%

Excel Money Mkt

RD$10.0B

6.28%

JMMB RD Ahorro

RD$5.4B

5.95%

\n\n\n\n\n\n\n\n\n

Fondo	Administradora	AUM	30D	90D	180D	Δ AUM MoM	Flujo Neto	Tipo
Popular RF CP	Popular Valores	RD$18.2B	7.12%	7.05%	6.98%	+3.2%	+RD$580M	RF CP
Reservas RD	BanReservas	RD$14.9B	6.85%	6.78%	6.72%	+2.8%	+RD$420M	RF CP
BHD Liquidez	BHD Fondos	RD$12.4B	6.42%	6.38%	6.45%	+1.5%	+RD$180M	RF CP
Excel Money Mkt	Excel Fondos	RD$10.0B	6.28%	6.32%	6.55%	+1.1%	-RD$110M	Liquidez
JMMB RD Ahorro	JMMB Fondos	RD$5.4B	5.95%	6.02%	6.18%	-0.8%	-RD$45M	Ahorro
Pioneer Dinero	Pioneer Fondos	RD$4.8B	6.55%	6.48%	6.60%	+0.9%	+RD$42M	RF CP
AFI Universal	AFI Fondos	RD$4.2B	6.08%	6.12%	6.30%	+0.5%	+RD$22M	Liquidez

Rating	Vol.	Tasa Prom	Spread vs CD	# Emisores	Δ MoM
AAA / AA	RD$5.2B	8.50%	+5bps	4	+3bps
A	RD$10.8B	9.15%	+70bps	8	+5bps
BBB	RD$5.1B	10.20%	+175bps	4	+8bps
BB y menor	RD$1.4B	11.80%	+335bps	2	+12bps

\n\n\n\n\n\n\n

Plazo	# Ops	Vol.	Tasa Min	Tasa Prom	Tasa Max	Δ vs Sem. Ant.
1-7D	68	RD$3.4B	7.50%	7.72%	7.95%	+5bps
8-14D	45	RD$2.5B	7.75%	7.98%	8.15%	+8bps
15-30D	30	RD$1.6B	7.90%	8.12%	8.30%	+10bps
31-60D	13	RD$0.7B	8.10%	8.32%	8.40%	+12bps

\n\n\n

\n\n\n\n\n

\n\n\n\n\n\n\n\n\n\n\n\n\n`;\n return new Response(html, { headers: { \"Content-Type\": \"text/html; charset=utf-8\" } });\n}","deleted","label",[114],"pulls",1,"forks","envVars",{"_137":52,"_139":52},"connections",{"_137":52,"_138":52},"count","unfilledCount","emptyCount",{"_20":113,"_13":114,"_115":116,"_117":-5,"_118":21,"_119":30,"_120":107,"_22":141,"_29":122,"_123":124,"_125":126,"_127":38,"_128":-5,"_142":143,"_88":144},["D",1779717062617],"children",[],[114],["D",1779654580600],{"_11":12,"_86":82},{"_11":12,"_80":-5,"_81":82,"_45":46,"_83":84,"_85":38},{"_29":30,"_13":26,"_20":21,"_27":28,"_31":-5,"_32":-5,"_75":-5,"_76":-5,"_77":-5,"_78":14,"_79":12},"ctx",{"_68":-5,"_109":182,"_183":184,"_185":186,"_187":38,"_188":38,"_189":38,"_190":107,"_191":-5,"_192":-7,"_193":-7,"_194":52,"_195":38,"_196":38,"_197":-5,"_198":38,"_199":38,"_200":38,"_201":-5},"ENV",{"_153":154,"_155":156,"_157":26,"_158":159,"_160":161,"_162":163,"_164":165,"_166":167,"_168":169,"_170":171,"_172":173,"_174":175,"_176":177,"_178":179,"_180":181},"REACT_APP_SENTRY_DSN","https://586020d86f05489db63a554690acf1e9@o1398359.ingest.sentry.io/6724499","RENDER_GIT_COMMIT","e87eb04e707cf64e7e532c8e8ec395f209e17f15","RENDER_GIT_BRANCH","POSTHOG_API_TOKEN","phc_nmoyuAkStEZuUp69rYlg1DZgrIt19Gx0Y4Hwf8tGgJP","POSTHOG_API_HOST","https://wart.val.town","WEB_API_TEMPLATE","https://{val}.web.val.run","APP_URL","https://www.val.town","MODULE_URL","https://esm.town","VANITY_WEB_API_TEMPLATE","https://{label}.val.run/","DENOLS_URL","https://lsp.val.town","NODE_ENV","production","CLOUDFLARE_TURNSTILE_SITE_KEY","0x4AAAAAACtaIZJH7s9rBMZ6","GOOGLE_CLIENT_ID","875989696899-jtsqkhlbdv5jrlsk8631p7ipjg3c6o62.apps.googleusercontent.com","STRIPE_PUBLISHABLE_KEY","pk_live_51N2zvWEpZTTLipIkVEwXrUG9AT0yeOOEYxszarZT1jpsZV58Ly6wlg3SltZpHN26CUalOBmUSY7adQRQiSkCZz2500qSXNkf8Y","API_URL","https://api.val.town",[],"preferencesKeybindings","default","preferencesTheme","light","preferencesFixers","preferencesCopilot","preferencesSelectionAi","preferencesCloseBrackets","preferencesChatPanelState","preferencesDprint","preferencesDenofmt","notificationCount","flagDenols","isBusinessOrgMember","businessOrgHandle","isBusinessOrgAdmin","isHigherTownieTier","navCollapsed","currentOrgId"]

Market Monitor

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1