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Thread: Canadian dollar

  1. #1
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    Default Canadian dollar

    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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    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%.

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    Quote Originally Posted by Malibook View Post
    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.

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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$.

  5. #5
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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
    Mike
    www.MikeFisherPuntaCana.com
    [email protected]
    Punta Cana/Cap Cana/Dominican Republic
    Mike Fisher Facebook Group on

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    Quote Originally Posted by indapipe View Post
    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.

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    Quote Originally Posted by Tamborista View Post
    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.

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    Quote Originally Posted by Eddy View Post
    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.

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    Quote Originally Posted by rubio_higuey View Post
    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.

  10. #10
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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.

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