What is the currency in the Dominican Republic? Name, course and denomination

Before planning a trip to any country, you need to find out which monetary unit is official in this state. If you have planned a trip to the Dominican Republic, you first need to find out what the currency is called in the Dominican Republic. The officially accepted monetary unit of this country is the peso, which is very typical for countries that in the past were long colonies of Spain.

What is the currency in the Dominican Republic?

The official state currency of the republic is the Dominican peso, which is divided into 100 centavos. The international code of this monetary unit is the letter designation DOP.

Despite the fact that the country has its own currency, in the Dominican Republic it is easy to pay with the money of some other countries. The most popular locals, sellers and service personnel accept American dollars. However, before making a purchase, you should discuss and find out the exchange rate from the seller. Paying in dollars or other currencies will only happen in urban areas: no one will accept foreign banknotes in villages, and plastic bank cards or checks, in general, can not be used for their intended purpose.

A Brief History of the Dominican Peso

The name of the official currency ("peso") is very common in the Hispanic countries of Latin America. Use this currency in the Dominican Republic has become almost since the proclamation of the independence of the state (1844). In 1947, the currency was renamed into a gold peso, but due to the currency denomination, this name disappeared over time.

Since then, the original name of the banknote was returned, so until now the currency is called the Dominican peso.

Nominal

To date, paper denominations of one, five, ten, twenty, fifty, one hundred, five hundred, one thousand and two thousand pesos are used in the Dominican Republic. There are also metal coins worth one, five, ten, twenty-five and fifty centavos. In addition, there are coins, the denomination of which is one, five, ten and twenty-five pesos.

All banknotes now in use in the country were printed in the early 2000s. Appearance and size of different denominations differ from each other. The color of each bill is also different.

Dominican Republic: currency, exchange rate

To date, the rate of the Dominican peso is not too high. In many respects this is due to the rather underdeveloped economy of the country. For 1 DOP give about 0.02 dollar cents. If we talk about the currency of the Dominican Republic to the ruble, its rate is approximately 1.19 rubles. However, this indicator is constantly changing due to market fluctuations in the value of a currency and many other factors. Such phenomena are peculiar to any currency pair.

It is interesting that, despite the higher cost of the British pound sterling against the US dollar, about 1 pesos give approximately the same pounds as the dollars, although the rate may vary.

Exchange transactions

It has already been said above that, in addition to the national currency, in the cities of the country, almost everywhere, willingly accept US dollars. Therefore, if you do not want to mess around with the exchange of local currency, you can just take dollars with you.

However, it is best to have at least a small amount of public money. To do this, you need to exchange your currency for a peso. Tourists from Russia have no reason to worry because of currency exchange, because the exchange offices are almost at every step. Get for your rubles Dominican pesos you can even on the beach specially equipped exchange offices. You can also do this in all banks, the airport or any other financial institution. As a rule, these exchange offices are open from 8am to 5pm local time. During non-business hours, you can exchange money at hotels, large restaurants or the airport. The average commission for an exchange operation is approximately 5%.

It has already been stipulated that, in addition to the local currency, here also the currency symbols of other countries are used. You can safely go with the euro, British pounds or other currencies that are highly valued all over the world.

Such a love of local residents for foreign money is due to the low cost that the state currency has in the Dominican Republic.

Conclusion

From this article you can learn about what currency to take to the Dominican Republic, to find out something about the state money of this country. And also about how to exchange, what is the exchange rate and what currency signs, except dollars, are accepted in the country. Tourists from European countries, including Russia, the states of North America do not have to worry about where and how to exchange money for local currency. Due to the fact that the main source of income of this republic is tourism, everything is done here so that visitors do not experience any problems with currency exchange or paying for goods and services with other banknotes. In many ways, this makes the Dominican Republic more attractive to tourists than some other countries in the Caribbean, where a foreign tourist may have any problems with the financial plan.

The Dominican Republic is one of the most benevolent for foreign travelers and recreation of the countries of Central America and the Caribbean. Therefore, now every year it becomes an increasingly attractive, interesting country for visiting and relaxing at sea.