When you travel to the Dominican Republic is key to get a hold of its currency and the exchange rate in your own money.
For travelers, having currency knowledge can be extremely beneficial.
It allows you to budget your travel costs avoid being overcharged by understanding the prices of goods and services.
This can be especially helpful when bargaining for souvenirs or trying to estimate the cost of a meal, for example.
I also included some travel tips so you can have the smoothest trip to this Caribbean region country.
What currency is used in the Dominican Republic?
The official currency of the Dominican Republic is the Dominican Peso (DOP).
Many establishments in the tourist areas will accept US dollars, but it is often at a less favorable rate.
It is suggested to get your currency exchange to DOP at the banks located at the international airport once you arrive, where you will get the official better rate in comparison to non-institutionalized places.
The paper denominations accepted are 2,000, 1,000, 500, 200, 100, and 50.
The legal coins go from 1, 5, 10, and 25 DOP, which is the highest.
What is the currency exchange rates in the DR?
The exchange rate fluctuates, not that much but you still need to become aware of when it does.
But as of writing 1 US dollar is worth approximately 55 DOP.
To check the rate in regards to your own money, use our currency converter below.
Use this FREE currency converter to make your life easier when planning your next vacation to the Dominican Republic.
The price of drinks in Dominican Peso and Dollars.
A local brewed beer costs around 3.25 dollars – 180 DOP (Jumbo size) at the grocery shops known as “colmados. In a restaurant or bar you should expect to pay the same but for a small size beer, at a minimum.
A bottle of soft drink price is around 0.60 to 1 dollars while at other places it can cost you up to 2 dollars (110 DOP)
The price for a bottled water is 10-25 DOP at the grocery shops (0.18-0.45 USD). You should expect to get it at 2 dollars for the same bottle of water at an event, concert, or restaurant.
An alcoholic drink, let’s say a glass of rum, whiskey or red wine can cost a minimum of 5 dollars. At a hotel that does not include this perk it can go up to 8 dollars.
During a holiday, sometimes the stores and restaurants have specials for drinks.
How much spending money do I need in the Dominican Republic?
This is a difficult question to answer as it depends on your individual spending habits.
A general rule of thumb is to budget around 50-100 USD per day. This will cover the cost of paying for meals and drinks.
If you are staying at a all-inclusive resort, you should not worry about this unless you want to do some activities not covered like snorkeling, a boat ride, get a spa service and souvenirs.
Of course, you can spend less or more depending on your needs. If you are planning to do a lot of shopping, for example, you may need to budget more money.
It is always a good idea to bring small bills on hand in the local currency, specially when you go out from the hotel to visit other places.
This will come in handy for small purchases, to tip, get handmade items at the beach.
At the hotels, resorts, restaurants it is also beneficial to have bills to purchase and tips, which is highly appreciated by the service staff. As a rule of thumb, tipping starts at 10% or 100 DOP at its minimum.
The spending cash you need fluctuates a bit depending on the service prices and the tourist destination you have chosen, whether is La Romana, Punta Cana, Puerto Plata, Santo Domingo, or Samaná.
What currency is used in Punta Cana?
The Peso is the official currency of Punta Cana, as it is throughout the rest of the Dominican Republic.
However, at the tourists spot the dollars is widely used, probably more than in Santo Domingo.
In a lesser term, Canadian dollars and Euros are also used in the same way as dollars in Punta Cana.
Travellers cheques are not common in the Dominican Republic and can be difficult if not impossible to cash.
ATMs and credit cards
ATM machines are widely available and credit cards are accepted in most establishments.
When using an ATM, be sure to use one that is affiliated with a major bank. There have been reports of scams at ATMs, so it is best to be cautious.
ATM’s do not dispend cash in Euro currency.
What is the best currency to buy?
Some establishments accept American dollars and euros currencies without problems.
It is advised to pay in DOP to avoid lower rates or higher prices.
As a best practice, ask for the same item in at least one more store, to make sure you are getting your money’s worth.
You can also use a credit or debit card, almost all stores accept Visa, Mastercard, American Express and Discover.
Another option is the a prepaid traveler’s cards, that work much like debit cards but aren’t linked to your checking account. Some of them have a transaction fee.
Does the Dominican Republic accept CAD dollars?
Banks accept other foreign currencies such as the Swiss franc, Canadian dollars, British pound, Euro, and Swedish krona among others. It is highly unlikely to be able to pay in CAD in this Caribbean country.
Keep in mind that on a holiday, the Dominican banks do not open, not even on Punta Cana.
However, you can find an ATM at the international airports like Punta Cana, Santo Domingo, and at resorts, hotels, shopping malls, and supermarkets, to get some DOPs for which you will pay at a transaction service fee and always based on the US dollar value.
What’s the best currency to take to Dominican Republic?
When travelling to this Caribbean nation, it is best to take US Dollars and then exchange them in DOP.
It is also a good idea to have some cash on hand in case of emergencies, tips, and to deal.
Should I take pesos or dollars to Dominican Republic?
The preferred currency, either in Punta Cana or Santo Domingo is the DOP.
The second best is the dollar. Find some of the banks in the area and find them where to spend the most cash. Do not take traveler’s cheques.
How much is $1.00 US in Dominican pesos?
The exchange rate fluctuates, so it is best to check the current rate before travelling.
At the time of writing, 1 USD is approximately 55 DOP.
What’s the sales tax in Dominican Republic?
The sales tax value in the Dominican Republic is 18%.
This tax is applied to all goods and services with the exception of food, medicine and some tourist items.
Should I take pesos or dollars to Dominican Republic?
Dominica’s preferred currency is the Dominican peso, a dollar based in the country’s capital.
The second best was the dollar. Find some of the banks in the area and find them where to spend the most money.
Is the American dollar accepted in Dominican Republic?
Yes, the American dollar is widely recognized in the Dominican Republic.
However, it is always a good idea to have some DOPs on hand for smaller purchases in restaurants, at the beach, to tip a service person, or in case of emergencies in the country.
If you are traveling from the United States and Canada, it is very likely that you will need to exchange money at a bank located at all major airports, to cover things not payable in your currency like gas, snacks, drinks, souvenirs, etc, and to avoid getting shorthanded with exchange rates lower than what it should be.