2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Before planning a trip to any country, you need to find out which currency is official in this state. If you have planned a trip to the Dominican Republic, then first of all you need to find out what the currency in the Dominican Republic is called. The official currency of this country is the peso, which is very typical for countries that in the past were colonies of Spain for quite a long time.
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 currency is the letter DOP.
Despite the fact that the country has its own currency, in the Dominican Republic you can easily pay with the money of some other countries. Local residents, sellers and service personnel are most willing to accept American dollars. However, before you make a purchase, you should discuss and find out the exchange rate from the seller. It will be possible to pay with dollars or other currencies only in urban areas: in the villages, no one will accept foreign banknotes, and plastic bank cards or checks, in general, cannot be used according todestination.
A Brief History of the Dominican Peso
The name of the official currency ("peso") is quite common in the Spanish-speaking countries of Latin America. This currency has been used in the Dominican Republic almost since the declaration of independence of the state (1844). In 1947, the currency was renamed the golden peso, however, due to the denomination of the currency, this name eventually disappeared from use.
The original name of the banknote has since been returned, so the currency is still called the Dominican peso.
Denomination
Today, the Dominican Republic uses paper notes in denominations of one, five, ten, twenty, fifty, one hundred, five hundred, one thousand and two thousand pesos. There are also metal coins in denominations of one, five, ten, twenty-five and fifty centavos. In addition, there are coins in denominations of one, five, ten and twenty-five pesos.
All paper banknotes currently used in the country were printed in the early 2000s. The appearance and size of banknotes of different denominations differ from each other. The color of each bill is also different.
Dominican Republic: currency, exchange rate
Today, the Dominican peso is not too high. This is largely due to the rather underdeveloped economy of the country. For 1 DOP they give approximately 0.02 dollar cents. If we talk about what is the currency of the Dominican Republic against the ruble, then its rate isapproximately 1.19 rubles. However, this indicator is constantly changing due to market fluctuations in the value of a particular currency and many other factors. Such phenomena are characteristic of absolutely any currency pair.
An interesting fact is that despite the higher value of the British pound sterling against the US dollar, for 1 peso they give approximately the same amount of pounds as dollars, although the exchange rate may vary.
Exchange transactions
It has already been said above that, in addition to the national currency, American dollars are readily accepted in the cities of the country almost everywhere. So if you don't want to bother with the local currency exchange, you can just take dollars with you.
However, it is best to have at least a small amount of government money with you. To do this, you need to exchange your currency for pesos. It makes no sense for a tourist from Russia to worry about currency exchange, because exchange offices are located almost at every turn. You can get Dominican pesos for your rubles even on the beach at specially equipped exchange offices. You can do the same at all banks, airports or any other financial institution. As a rule, these exchange offices are open from 8 am to 5 pm local time. Outside business hours, you can exchange money at hotels, large restaurants or the airport. The average commission for a money exchange transaction is approximately 5%.
It was already mentioned above that, in addition to the local currency, banknotes of othercountries. Feel free to travel with euros, British pounds or other currencies that are highly valued around the world.
Such a love of local residents for foreign money is due to the low value of the state currency in the Dominican Republic.
Conclusion
From this article you can learn about what currency to take to the Dominican Republic, find out something about the state money of this country. And also about how to exchange, what is the exchange rate and what banknotes, except for dollars, are accepted in the country. Tourists from European countries, including Russia, the states of North America should not 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 payment for goods and services with other banknotes. In many ways, this makes the Dominican Republic more attractive to tourists than some other Caribbean countries, where a foreign tourist may have any financial problems.
The Dominican Republic is one of the most friendly countries for foreign travelers and recreation in Central America and the Caribbean. Therefore, now every year it becomes more and more attractive, interesting country to visit and relax on the sea.
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