Before planning a trip to a country, it is necessary to find out which currency is official in that country. If you have planned a trip to the Dominican Republic, then first of all you need to find out what is the name of the currency 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 colonies of Spain for quite some 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 for 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 money from some other countries. Most willingly, local residents, sellers and maintenance personnel accept US 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 be possible only in urban areas: no one will accept foreign banknotes in the villages, and plastic bank cards or checks, in general, cannot 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 Spanish-speaking countries of Latin America. This currency was used in the Dominican Republic almost from the moment 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 disappeared from use over time.
Since then, the original name of the banknote has been returned, so the currency is still called the Dominican peso.
Face value
Today in the Dominican Republic paper notes in denominations of one, five, ten, twenty, fifty, one hundred, five hundred, one thousand and two thousand pesos are used. There are also metal coins in denominations of one, five, ten, twenty five and fifty centavos. In addition, there are coins whose face value is 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 differs from each other. The color of each bill is also different.
Dominican Republic: currency, rate
To date, the course of the Dominican peso is not too high. This is largely due to the rather underdeveloped economy of the country. For 1 DOP give approximately 0.02 dollar cents. If we talk about what is the currency of the Dominican Republic to the ruble, then its rate is approximately 1.19 rubles. However, this indicator is constantly changing due to market fluctuations in the value of a particular currency and many other factors. Similar phenomena are characteristic of absolutely any currency pair.
An interesting fact is that despite the higher cost of the British pound against the US dollar, for 1 peso they give about the same amount of pounds as dollars, although the exchange rate may vary.
Exchange operations
It has already been said above that, in addition to the national currency, in the cities of the country they are almost always willing to accept US dollars. Therefore, if you do not want to bother with the exchange of local currency, then you can just bring dollars with you.
However, it is best to carry with you at least a small amount of government money. To do this, you need to exchange your currency for the peso. A tourist from Russia does not make sense to worry about currency exchange, because exchange offices are almost at every step. You can get Dominican pesos for your rubles even on the beach with specially equipped exchange points. It can also be done at all banks, the airport or any other financial institution. Typically, these exchange offices are open from 8 am to 5 pm local time. After hours, you can exchange money in hotels, large restaurants or the airport. The average commission for a money exchange transaction is approximately 5%.
It has already been stated above that, in addition to the local currency, banknotes of other countries are also used here. You can safely go with the euro, British pounds or other types of currencies that are highly valued throughout the world.
Such a love of local people for foreign money is determined by the low cost that the state currency in the Dominican Republic has.
Conclusion
From this article you can find out 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 dollars, are accepted in the country. Tourists from European countries, including Russia, North American states do not have to worry about where and how to exchange money for local currency. Due to the fact that tourism is the main source of income for this republic, everything has been done here so that visitors do not experience any problems with exchanging currency 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 of the Caribbean, where a foreign tourist may have any financial problems.
The Dominican Republic is one of the most friendly countries for Central America and the Caribbean for foreign travelers and vacationers. Therefore, it is now every year becoming an increasingly attractive, interesting country for visiting and relaxing at sea.