Canadian or US $$$$

exchange rates

Hi there, first good luck on all the family reunion stuff. I am sure you will have fun.

It has been my experience that the canadian dollar exchange rate is not very good here! Once you factor in the cost of buying US dollars there, then exchanging them here, you are still better off MOST of the time then if you bring canadian money. Why not call your exchange house there and see if you can't get pesos there? Sometimes they can do this for you.

You can always use your bank card here but you have to factor in the ATM fees on top of the exchange rate. AND you can only withdraw 5,000 pesos at a time so the fee applies on each withdrawal! Credit cards work as well of course but so many places don't take credit cards...

I always take $US cash (I'm from Canada too) and either just spend $US (gotta keep track of the exchange rate in use for each transaction if you do this or you WILL get burned) or change money at a local casa de cambio to $RD pesos. Either way is OK if you watch the exchange rates. The $CDN is undervalued in the DR because they want $US not $CDN so the exchange rate for $CDN sucks.

While there make judicious use of the safe in your hotel room and I always keep $US in one pocket and $RD pesos in another one so I can just grab whatever I choose to purchase with.

Personally I would never use an ATM or a credit card in the DR, except at my resort for incidentals (or in an emergency).

Mi dos pesos.

Gregg

Hi becky........

Since you'll be going to Juan Dolio/Guayacanes my suggestion would be to use your Mastercard or Visa (Masterrcard has a better exchange rate) to withdraw funds at the Banco Popular near Metro.Make the withdrawal INSIDE the bank NOT through the ATM (be sure you have your passport with you!). You can prepay the card before you leave so you won't incur interest charges. We've withdrawn anywhere from 20-40,000 pesos at a time and the Mastercard International bank fee is $6. per withdrawal.
We've found over the years this is the cheapest method of getting our Can.$$$ changed to pesos without having to pay exchange fees twice!

Have a great trip......let me know how Juan Dolio is and I'll be anticipating seeing those photos!!!

planner said:

Why not call your exchange house there and see if you can't get pesos there? Sometimes they can do this for you.

Click to expand...

No, No - please don't do it.

Planner - I just had a poster on Debbie's who exchanged $CDN for $RD pesos in Canada and only got $20RD pesos to the $CDN which equates to about $25RD per $US instead of the current rate in the DR which is... (?)

I defer to you but I'm guessing it's between $RD27 - $RD29 (???).

In his situation I calculated that he lost about 9.7% by doing it that way.

Gregg

I am not Canadian but read DR message boards and the seasoned travelers from Canada always take US dollars to exchange in the DR. I used to live in Jaun Dolio and the best place I found to change my US dollars for pesos was at the little cambio across from Playa Real. You have to remind the guy that you are not a tourist and that you will be changing money more often.shhhhh he will not know the difference that you do not still live there.
You will enjoy you stay at Capella. Try to get a room in the 4000 section. These are newer rooms and are on the beach. The resort should not be too busy at this time of year.
I only wish if I knew if Guilla's was open or if they are still on vacation. I have not been to visit Jaun Dolio in a long time and I miss everyone there! Guilla's is a great place to start the day and also to end the night.
Is the school that you worked at still open?
Have a great trip and have fun showing off the baby. I can not wait to see the pictures either.

I agree, use your creditcard and US cash. Do never change direct to pesos at home, it does not work from any country.. always around of 10 % loss.

And have a GREAT family reunion!

Hi again Becky!

Guilia & Yuda should be back the second week of June if not a few days earlier (my memory fails me at the moment but I believe they left the 6th of April for a two month leave of absencw!). There should be a sign on the window of Guilia's cafe as to when they will be back......if not the guy next door will be able to tell you.

Regardless of the other advice in this thread.....I'll still guarantee you that the best rate of exchange you will get is by using your credit card or debit card to take cash withdrawals from inside the Banco Popular in Juan Dolio.
The exchange rate is calculated by your Canadian bank when the transaction is recieved by them ans I've always found it to be a few points better than any rate you'll get in the DR for cash or for sure it beats the exchange fees you'll pay (even with exchanging by your Mom) on changing Canadian to American then to pesos! If you'd like take a couple hundred American to change on first arrival then use your card to withdraw from BPD!

Have fun and if you get a chance stop in at the satelite internet place in Plaza Oasis and say hi to Dunhill for me!!