Paying in the Dominican Republic

Hi xiv,

Greetings from Atlantic Canada.

I am Canadian and I take $US Cash. I purchase in $US when I get a preferential rate of exchange and I convert to $RD pesos at a Casa de Cambio for those cases where I require pesos or where they try to rip me off on the exchange. But don't convert too much at one time as it is difficult or impossible to convert back.

Be aware of the exchange at all times or as far as I am concerned it is on you if you get taken. As far as rip offs (other than paying too much because you didn't bargain well, which once again is on you) cigars, amber and larimar are potential problem areas, if you don't know good from bad. If you want these and want to minimize your risk, pay the higher prices asked at reputable dealers - not "cheapy, cheapy" on the beach.

Have fun and enjoy.

Gregg

You visit a country you pay with their money

xiv said:

I was wondering... I know the currency in the DR is the peso, but how do the locals deal with tourists? Do they take only dollars (or Euros)? Or can you really pay with pesos?

Also... Should you (always) bargain when buying anything? Should you be aware of big rip offs (i guess i always should aranoid: )? Anyone experience nasty stories concerning money there?

Thanks,

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You pay for everything in pesos with the exception of some hotels prefer US$ but if you pay using a credit card they will convert to pesos from US$. Not sure the inference of "really" pay with pesos, it's their money and they expect pesos.

So buy pesos in small quantities from cambios as needed. In theory if the vendor dearly needed US$ and there is a US$ shortage then they might buy the US$ from you at a better rate than they would pay for US$ at a cambio, but frankly it is not worth the effort to see if this is the case. Just buy pesos.

As a gringo unless prices are marked, as in a larger store and most pharmacies, , prepare to haggle for everything since the prices are "adjusted" if they think they can get away with it especially in colmados.

Pesos

I was just at Cabarete last week. Beware of people ripping u off. I would immediately change dollars to pesos. Also, make sure you dont pay as much as you would in the states. Its always better to buy things with price tags on them. Some vendors will rip u off if you look like you have no idea how much it should cost. The exchange right now over at Cabarete is around 41.50= $1. Major banks give more..up to 43 pesos. I'm not a great bargainer but if you are, bargain as much as you can. A pair of flip flops shouldnt cost 500 pesos....I was too stupid.. found out it was only 150 pesos at the supermarket. So if youre not good with numbers like me I would do my homework.

Cavite said:

I was just at Cabarete last week. Beware of people ripping u off. I would immediately change dollars to pesos. Also, make sure you dont pay as much as you would in the states. Its always better to buy things with price tags on them. Some vendors will rip u off if you look like you have no idea how much it should cost. The exchange right now over at Cabarete is around 41.50= $1. Major banks give more..up to 43 pesos. I'm not a great bargainer but if you are, bargain as much as you can. A pair of flip flops shouldnt cost 500 pesos....I was too stupid.. found out it was only 150 pesos at the supermarket. So if youre not good with numbers like me I would do my homework.

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I hate to tell you this but you can finda pair of flip flops for RD$75

xiv said:

Thanks for this valuable information.. I will be staying in an All-In hotel in Samana, so I guess that all the items from within (and nearby) the hotel will be overpriced anyway :squareeye . But I will follow your advise and change some pesos for the occasional purchases outside the hotel area. Is changing your money in big banks at a better rate than local money exchange places? I guess changing money at the hotel itself is the worse deal What are the best bills to change it into? (100 peso bills? - I guess big bills are less easier to use)

Thanks

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Is better to exchange at the local exchanges place because you can probably get more $ for your dollars.

Always and Always

xiv said:

Thanks for this valuable information.. I will be staying in an All-In hotel in Samana, so I guess that all the items from within (and nearby) the hotel will be overpriced anyway

I guess changing money at the hotel itself is the worse deal What are the best bills to change it into? (100 peso bills? - I guess big bills are less easier to use)

Thanks

Click to expand...

Hotel stores inside AI's are overpriced and have lousy selections anyway.
Never change cash in the cambio IN the AI.
100 peso bills are quite useful for just about everything, if you can get a mittfull of them, try to get 100's. 50's to tip with also. (roughly $2 and $1 bills respectively, for 100 and 50 pesos) Some cambios will try to give you RD$1000 or even RD$2000 notes if you change US$100.

Don't let them - say no mil, no dos mil por favor.
Solo cien, y cincuenta, por favor asks for 100/50's.

Then when they have a conniption over that (giving out so many small bills) you can say,

OK, poco quinientos (kinney-en-toes) , entonces (OK, a few 500's then).

Try this

Here is what I have found to be best for me in spending money in the DR. The best way to get the most of your US dollar is to always use your ATM card. In March the best I could do at the local Popular Bank was 40DOP per $1USD. By using my ATM, my bank gave me 47DOP per $1USD. Quite a savings it you are spending a lot of money. The only time I used USD was at the car rental agency in San Pedro. By doing so I got a great rate on a 2003 Camry, $247USD for 7 days. Although it was an inconvenience to return the car to San Pedro from La Romana where I was staying it was a significant saving over the 36,000DOP that Honda Rent-A-Car wanted in La Romana.

The only time I was ripped off was at Hotel Olympo. I tried to charge my room on my visa card. The guy on the counter was new and when he ran my card he said that I needed to punch in a pin number. I said no, this was not right as it was a credit card not a debit card. Instead I paid in cash $5,200DOP, took the unsigned Visa voucher and thought that was that. To my surprise, yesterday I noticed in my online statement that there was a charge for $113.00USD on my card for Hotel Olympo. I called the credit card company to dispute the charge and will see if my friend in La Romana can help me straighten this out.

As for paying tourist rates, here is what I do. I tell local merchants that I work for the U.S. Government and I am here investigating graft and corruption in the DR political system. If they push me I show them my US Uniformed Services Card, Maj/04, USAF/RES. No one in the DR has ever questioned me as to what it means. For some reason I always get local or below rates.

Charlie

xiv said:

I was wondering... I know the currency in the DR is the peso, but how do the locals deal with tourists? Do they take only dollars (or Euros)? Or can you really pay with pesos?

Also... Should you (always) bargain when buying anything? Should you be aware of big rip offs (i guess i always should aranoid: )? Anyone experience nasty stories concerning money there?

Thanks,

Click to expand...

VirginiaGomes said:

I hate to tell you this but you can finda pair of flip flops for RD$75

Click to expand...

Next time I wont forget to bring my flip flops. heheh

Cavite said:

Next time I wont forget to bring my flip flops. heheh

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RD$75.00 is about $1.50 so save that extra space in the luggage for some other things.

But....

...don't wait to get to the AI to buy things you'll need however.

SPF's, Aspirin, razors, french ticklers, your sandals with the flowers on them...etc.

Get that stuff in town or bring it. Prices at the pharmacy/shops at an AI are really inflated.