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Thread: Current Peso/ US$ Rate

  1. #1
    Grande Pollo en Boca Chica
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    Question Current Peso/ US$ Rate

    With this recent commercial float of the Peso what is the cash or traveller's cheque rate for the peso vs. US$ in the cambios? Someone local let me know? Thanks.

  2. #2
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    Default

    You could get the rate on the following link in the section currency converter:

    www.dominican-dreams.com/english.htm

    It is updated every time!!!!

  3. #3
    DR1
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    See the news item on the declining value of the peso in the dr1 daily news page of Thursday, 31 January. The official rate is RD$17.10 but yesterday exchange banks were paying up to RD$17.30 to the dollar. Commercial banks were selling at up to RD$18.20 for the dollar. Also see the explanation by Freddy Emam Zade, of the Business Forum on the topic at http://dr1.com/forums/showthread.php?threadid=15544

  4. #4
    Grande Pollo en Boca Chica
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    Question A local actual price please

    I agree Oanda.com ( powering Dominican Dreams converter) is one of the better ones (though they were showing 16.5 RD$ per US$ for about a year) - someone in DR now- what is the selling price for pesos ? Thanks.

  5. #5
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    Read Delores' post!!!

  6. #6
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    Unhappy Cnd$ vs. Peso vs US$

    I'll be flying into DR next week.
    With the Crappy Cnd$...
    is it better at this time to exchange it here for US$ - then exchange it again there for Pesos
    or
    should I just bring my Cnd$ and exchange that there?
    Any advice?

  7. #7
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    Default Exchange

    Rick, may I ask what the difference is......I'm sure, you being a frequent traveller to the DR, know where to exchange your money, so if the rate is 16.98 or 17.20.....unless you are dealing with quite a bit of cash....what's the difference? For Swansong.....I always find it best to bring USD and exchange them there for peso's. Also I have sent money down to myself(when I know I've needed lots of cash!)thru Western Union, and picked it up when I got there.....this is "always" the best rate! Only thing is you need to make sure you have a safe place to put it while your there. In the DR you can use your debit card, and this gives you a very favorable exchange rate....I get two out of countrie transactions for free per month....other wise this might not be a good idea as some financial institutions charge 5.00 for one transaction outside of the countrie. Hoped this helped.

  8. #8
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    Default CDN dollars to US then to pesos

    There is no way you will gain anything by paying a bank to change your money twice.

    Bring CDN and change it here.

    marc

  9. #9
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    Question Re: CDN dollars to US then to pesos

    Originally posted by Marc
    There is no way you will gain anything by paying a bank to change your money twice

    marc
    Marc,

    If we are talking about a couple of 100$ CDN it's to much trouble for a few pesos but for large amount of CDN money I don't agree with you.

    In the past 2 weeks I changed CDN for US in an "exchange office" (casa de cambio) at rates from l.5654 to 1.5930 it gave me an average of 1.5790 while the banks were at l.615 - l.62 and even 1.63

    At 1.579, 5 000$CDN = 3 166$US

    5 000$ CDN at 10.25 = 51 250 pesos. At 10.50 = 52 500pesos

    3 166$US at 16.75 = 53 030pesos. At 17 = 53 822pesos. As mentionned in Dolores' post at 17.30 = 54 771pesos. The difference means about 100 Presidente bien frķas and buying by the cajas it means more.

  10. #10
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    Default Banks...

    ...they don't work for free. Riddle me this: If I go to a bank and exchange CDN to USD, then USD back to CDN, over and over....will I come out even?

    Answer: There's no way! You have to loose! The banks make money everytime they change currency for you. It is unthinkable to me that both you AND the bank AND the money changer in the DR make money by you changing your money twice. Where does the revenue come from?

    I am not arguing that your math is wrong, but the logical engineer in me cannot accept that you have discovered a revenue generator in which everyone MAKES money off your transaction, including yourself. I think it is a matter of you mixing up exchange rates and using averages when you have to focus on using SAME DAY, SAME TIME exchange rates.

    Dammit! Now I have to dust off the calculator tonight!

    marc

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