Canadian dollar

indapipe

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Jan 14, 2011
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I will be traveling to DR next week and have some RD$ held for me in trust there. I will be bringing most of it back to Canada. I want to know if it would be more advantageous to have it changed to CA$ in DR or to US$ in DR and then convert to CA$ when I get back to Canada. Thanks for any insights.
 
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Malibook

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Jan 23, 2002
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You will lose around 2% changing US$ to CDN$ in Canada.

I would check with a few cambios and banks to see if I would lose more than 2% buying CDN$ instead of US$.

I would also ask around to see if anybody wants to change any money, US or CDN, where you can both come out ahead.

Perhaps you can open up an account with Scotiabank and take out the money from a Scotiabank ATM in Canada with no service fee and at a good exchange rate.

I once saw someone buy some CDN$ at a Banreservas cambio and get dinged for around 20%.
 

Tamborista

hasta la tambora
Apr 4, 2005
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I would also ask around to see if anybody wants to change any money, US or CDN, where you can both come out ahead.

That is also an easy way to get a tire slashed or a windshield broken if not done discreetly and in small amounts. Tightening up the "middle market" is not taken lightly outside the cambista circles papi. The OP should trade USD or use the ATM from Scotiabank, you already know this.
 
Feb 7, 2007
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You will lose about 10% when changing CA$ into DR$ in the DR, as opposed to losing 2% when changing CA$ into US$ in Canada and bringing down the US$.
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
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and for the opposite,
changing Pesos to Buy US$ here in DR you pay at least 5% of a Fee to get da Greenbucks.
Canadian Dollars will most liekly not be available here to purchase with Your Pesos.

Mike
 

Eddy

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Jan 1, 2002
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I will be traveling to DR next week and have some RD$ held for me in trust there. I will be bringing most of it back to Canada. I want to know if it would be more advantageous to have it changed to CA$ in DR or to US$ in DR and then convert to CA$ when I get back to Canada. Thanks for any insights.
Just don't forget the 10G's max. amount. You might get lucky and find someone who needs to do the opposite.
 

Malibook

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That is also an easy way to get a tire slashed or a windshield broken if not done discreetly and in small amounts. Tightening up the "middle market" is not taken lightly outside the cambista circles papi.
I was referring to family, friends, and acquaintances.

Obviously it wouldn't be wise to stand on the street and solicit strangers in front of the cambios and beside the street money guys.
 

Malibook

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Jan 23, 2002
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Just don't forget the 10G's max. amount. You might get lucky and find someone who needs to do the opposite.
Over $10k needs to be declared.
It is not a max. amount limit.
It is much more than I would want to carry around and who needs the hassles and risk.

Getting lucky and finding someone would be the best case for both.
 

indapipe

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Jan 14, 2011
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You will lose about 10% when changing CA$ into DR$ in the DR, as opposed to losing 2% when changing CA$ into US$ in Canada and bringing down the US$.
Just to be clear: I have pesos already. I plan on exchanging them to CA$ eventually and bringing the CA$ to Canada. I just need to know which method would net me the most: RD$ --> CA$ in DR or RD$ --> US$ in DR and then US$ --> CA$ in Canada. I have already confirmed that CA$ are available to be purchased in DR where I will be.
 

indapipe

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Jan 14, 2011
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OK, I got some figures but still missing part of the equation. Here in Canada at my bank I pay CA$ 0.9785 for every CA$ 1.00 that I exchange (buy) from US$ so if I exchange US$ 1000 I receive CA$ 978.50. I confirmed from a friend in DR that to buy CA$ at a cambio I pay RD$37. Can anyone confirm the cost in RD$ to buy $US at a cambio? Thanks.
 

dominicanadian

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Aug 30, 2010
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Not sure If prepaid credit cards are offered in the DR this could be an option.(but check the rates ). I have exchanged peso to Canadian in Sosua at a small cambio just east of the small playero,(not the street guys) the boss in the day allways gives me a good rate both ways. But it might depend on how much Canadian he has at the time. If you do get it changed split it up amongst familly or freinds you are travelling with. Customs would love to find morre than 10000 on you, and It will be gone.
 

indapipe

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Jan 14, 2011
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Thanks for the info DC. Sounds like it might be a good option. I'll let him know you sent me:D Which small playero? Do you mean the supermercado on the pista? I'm not super familiar with Sosua although I know where some things are: Banco Popular, German bakery, etc.