Banks & Exchange Services in Dominican Republic

Banks & Exchange Services

You may need to change some money, particularly if you're not staying in an all-inclusive resort, where dollars are usually accepted. Prices quoted in this chapter are in U.S. dollars unless noted otherwise. The coin of the realm is the Dominican peso (written RD$). At this writing, the exchange rate was approximately RD$32.50 to US$1.

Independent merchants willingly accept U.S. dollars, because the peso can fluctuate wildly in value. However, change will be in pesos. Always make certain you know in which currency any transaction is taking place and carry a pocket calculator. You can find cambios (currency exchange offices) at the airports, as well as on the street, and in major shopping areas throughout the island. A passport is usually required to cash traveler's checks, if they're taken. Save some of the official receipts with the exchange transaction, so if you end up with too many pesos when you are ready to leave the country, you can turn them in for dollars. Some hotels provide exchange services, but, as a rule, hotels and restaurants will not give you favorable rates -- casino cages are better. Banco Popular has many locations throughout the country, with ATMs that accept international cards -- but they spit out pesos. Major credit cards (American Express not as often) are accepted at most hotels, large stores, and restaurants. If your American Express card is lost or stolen, call 809/227-3190 in Santo Domingo or 866/751-2797 in other provinces (24 hours). For Visa or MasterCard, call 636/722-7111.