Dominican Republic currency exchange information
- Official currency in the Dominican Republic is the Dominican peso. (RD$ )
- CAD$ has a better exchange rate in the Dominican Republic compared to US$. There's isn't much difference though unless you'll be exchanging a large amount of money.
- Payment in US$ and Euros is widely accepted in many places. Most traders however will charge 1 Euro= 1 USD which will give you a really bad rate.
- There's a 16% surcharge on all credit card purchases ( Federal policy). Some businesses may include this in your bill. Overally, avoid paying using your card to avoid the extra fees and also because fraud is quite common.
Importation and Exportation of Pesos: You can import upto 20000 pesos, there's no limit to the amount of foreign currency you can import. It's illegal to export pesos.
Best ways to exchange currency
- ATM withdrawals
- Forex bureaus ( casa De cambios)
- Banks are open from 8.00 am to 6.00 pm or upto 8.00 pm in tourist areas.
- Watch out for street money exchangers in Punta Cana. They aren't licensed and most of them will give you fake pesos.
- ATM withdrawal limit is severely limited. Most Dominican Republic banks have a limit of RD 4000- 10000. ATM withdrawal fees are between RD 120 - 200. Banco popular has the highest withdrawal limit.
- Bank of America customers can avoid ATM withdrawal fees by using Scotia bank ATMs.