Dominican Republic Money

Right: US dollar bill

What Dominican Republic money to take on holiday?
Dominican Republic money You may be lucky enough to be visiting the DR and are wondering what to take in terms of Dominican Republic currency.

If you are just thinking about going to an all-inclusive you only really need US dollars. I use small denominations [1-2 US] to leave as tips for the staff. I certainly always found that they really looked aftre the room and left extra of whatever you wanted in the fridge!

The U.S. dollar will be accepted at the resort shop and is accepted at most tourist establishments. For example if you are playing golf it will be accepted at the golf club.

The dollar seems to be almost preferable to some locals because of its perceived strength.

Below: One Peso note

Credit cards

Major credit cards and travelers cheques are also accepted at most major tourist areas in the country.

Dominican Republic money

ATM`s

While ATMs are found in cities and at most resorts, they aren't as readily available in the Dominican Republic as they are in other major countries. That said, I was happy getting my cash with a CIRRUS card and that way I didn`t have to mess around with travellers cheques etc.

Do be aware that some ATM`s are not in the best working order and can eat your card. I always advise taking 2 cards just in case.

Dominican Republic money

Converting foreign currency to Dominican Peso`s

[see above for one Peso note]

Foreign currency can easily be converted to Dominican pesos at the Banco de Reservas exchange booths found at airports, major hotels, commercial banks and authorized exchange houses. Cash advances are also available at certain commercial banks.

Exchange rates fluctuate daily and the US dollar is the most widely transacted currency. Euros and Canadian dollars are also accepted.

Airport exchange rates will be less attractive than those you find at banks or cambios (currency exchange offices). Not surprisingly, hotels and restaurants will not give you as good a rate as cambio`s.

When you do exchange money, especially in a Cambio, make sure to count it in front of the clerk.

For more info about the Dominican Republic try a search [top left] or use the links below!

Below: A 50 Peso note

Travellers cheques

I advise against traveller`s cheques in the DR. You end up paying more for the bank to make the exchange, and you wait a long time for each transactions.

In addition, some of the larger hotels and resorts will take them but apart from banks, most places DO NOT.

Banks will exchange a travelers check but make sure you take your passport.

Banks and banking hours

There are over 1,600 automatic teller machines (ATMs) located nationwide. Banking hours are usually 8:30am to 3pm, Monday through Friday. Some bank branches (primarily in shopping malls or supermarkets) remain open longer.

If you do decide to take money from a credit card think about entering a bank to do this just to be on the safe side. Although I have always felt safe in the DR it is wise to exercise caution and use the machine inside the bank. Don`t forget to take your passport with you when doing any bank transaction

Security

Alaways use the safe in your hotel use it. Don't carry all your cash and documents on you. When you do exchange money make sure you put it away before going into the street.

The Peso

The peso oro is the currency of the Dominican Republic. Its symbol is "$", with "RD$" used when distinction from other pesos (or dollars) is required.

Each peso is divided into 100 centavos, for which the symbol is used.

If requiring change, the smallest coin you will normally receive is 1 peso (in the form of a coin).

Many establishments will NOT take bills that are torn or in very bad shape so when you receive money do make sure it is in decent shape.

Dominican Republic money

US dollars are the most easily exchangeable foreign currency into the local Dominican Republic currency, Dominican Pesos (RD). In a lot of the tourism destinations in the country, many of the hotels, restaurants and businesses indicate their prices in US dollars as well as in Dominican Pesos.

Below: Some Dominican coins

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