Why doesn't the DR adopts the USD as its currency?

JasonD

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Feb 10, 2018
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Why doesn't the DR adopts the USD as its currency based on the devaluation of the DOM Peso?

:surprised
 

JasonD

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Feb 10, 2018
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Why should it?

Mr. Bob, ethics of discussion makes clear that one never, EVER, answer a question with yet another question.

I posed a question, you will in turn present arguments or an answer to the presented question.

Thank you!
 

Robert

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Jan 2, 1999
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Why doesn't the DR adopts the USD as its currency based on the devaluation of the DOM Peso?

:surprised

In answer to your question. NO.

Ethics... Unless it's a very broad question.
Do you think it should? If so, why? Maybe you should expand the question.

Actually, in the Hipolito years we briefly had plenty of stores pricing in dollars.
I think that is the closet the DR came to adopting the US$ :)
 

bob saunders

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Jan 1, 2002
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Mr. Bob, ethics of discussion makes clear that one never, EVER, answer a question with yet another question.

I posed a question, you will in turn present arguments or an answer to the presented question.

Thank you!

You don't get to decide for somebody else how they chose to answer your question. It is perfectly acceptable to continue a discussion by asking you to qualify your question by asking another question, besides by now you should realize there are no hard and fast rules on this forum.
 

CristoRey

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Apr 1, 2014
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Currencies rise and fall against the dollar all the time. Makes no sense for a sovereign nation
to adopt the USD for this single reason.
 

Peterj

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Oct 7, 2002
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Dominican Republic
Mr. Bob, ethics of discussion makes clear that one never, EVER, answer a question with yet another question.

I posed a question, you will in turn present arguments or an answer to the presented question.

Thank you!

Wow! A new dictator has risen..... :speechles
 

Blueceo

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Nov 1, 2015
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The answer is quite simple Jason. The DR would then loose control of the ability to inflate their currency at will. Inflation is the means used by governments to bring down the value of loans and to steal from it's people in the future. Of course loans in foreign currency's would not be affected but all Peso loans are reduced in value as inflation goes up. If they used dollars they would give up this very important power they now control.
 

tee

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Why doesn't the OP pose the same question to the Canadian or the Mexican government considering their geographical positioning....somehow I don't think the answers would be as polite!! lmao
 
Jun 18, 2007
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Zimbabwe uses the USD and they don't do so well Frank. not a simple answer to this question. For the D.R., National pride may be an issue as well.

Zimbabwe uses several currencies so apples and oranges?
I'm pretty sure the Dominicans wouldn't mind trading the peso for the dollar, when it comes to money they don't care about national pride. ;)
 

ju10prd

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The East Caribbean Dollar is fixed at a rate of 2.6882 to the US Dollar, the Bahamas Dollar is fixed at 1:1, the TCI and BVI use the US dollar, the Cayman Dollar is fixed at 1.20 if I recall.

There are some pretty diverse economies in that lot.
 

Garyexpat

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From 1905 - 1937 the U.S. dollar replaced the Dominican Peso (both officially in use until I think 1947). Personally I prefer having a separate currency in the D.R.
 

josh2203

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From 1905 - 1937 the U.S. dollar replaced the Dominican Peso (both officially in use until I think 1947). Personally I prefer having a separate currency in the D.R.

Me too actually.

My country in Europe lost it's national currency when Euro was introduced. This was very many years ago, and by now, it's been discussed multiple times if the country should go back to the national currency.

The prices went mostly up (even if a bit, but still), and quite a few people (for example elderly) did not have a great time first using two currencies simultaneously, then giving up the currency they had used for decades.
 

Russell

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Jun 17, 2017
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Look at the RD currency. The prints of the 3 Sisters , past Presidents etc.
This is part of National Pride.
Taking the USD as a RD currency makes no sense.
What has George Washington got to do with RD History ?
RD would be labeled as a ''Crone State'' under USA control. Only to be treated like Puerto Rico when Disaster hits.
Canada was mentioned here.
Never!
Pride and Independence, that means more than the US Greenback ;
Russell
 

AlterEgo

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Jan 9, 2009
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From 1905 - 1937 the U.S. dollar replaced the Dominican Peso (both officially in use until I think 1947). Personally I prefer having a separate currency in the D.R.



My first trip to DR was 1975. The dollar and peso were equal, 1:1. You could pay anything with either currency, at least in Santo Domingo. 
 

JasonD

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Feb 10, 2018
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In answer to your question. NO.

Ethics... Unless it's a very broad question.
Do you think it should? If so, why? Maybe you should expand the question.

Actually, in the Hipolito years we briefly had plenty of stores pricing in dollars.
I think that is the closet the DR came to adopting the US$ :)

In second though, yes, will expand the question as replies come in. Thanks for a well thought out reply.

You answer however was no; could you please provide insights as to why not?