Need help with exchange rates please.

AnnaC

Gold
Jan 2, 2002
16,050
418
83
We have a place for exchanging $$$$ here where I live in Canada ( not a bank) so trying to figure something out.

I know everything is tied to the US dollar so as of this moment if I buy a US dollar I need 1.05 Canadian. If I exchange 1 Canadian dollar I will get 37.39 pesos so I figure that's still costing me .05 right? So my question is, isn't it better I exchange some money for pesos here at home before I arrive?

I'm assuming a taxi takes only US dollars, yes, no?

Give me your feed back and please have some patience with me I'm getting old. :)

Thanks
 

Tamborista

hasta la tambora
Apr 4, 2005
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Bring a few USD for a taxi ride and use your ATM card or inside bank for RD Pesos.
It has been determined ATM is the most efficient way to go from Loonies to Pesos.

Perhaps WW can confirm this?
 

Tamborista

hasta la tambora
Apr 4, 2005
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Casa de Cambios will screw you from Loonies to RD Pesos, and two exchanges adds up two spreads, so use ATM card.
Tell your bank in advance you are going to spend a week with your Sanky in Punta Cana so they do not shut down your card after one withdrawal.
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
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Bring a few USD for a taxi ride and use your ATM card or inside bank for RD Pesos.
It has been determined ATM is the most efficient way to go from Loonies to Pesos.

Perhaps WW can confirm this?

My usual modus is to use US$$..... I have , on occasion , wired Cdn $$ to an RD account and been treated reasonably well.

Using the cambio for Cdn $$ is costly.

My advice mirrors the great trader, Tambo - swap up you Cdn $$ in Canada and then convert in RD to pesos.
The rates won't hurt you and you have familiar frame of reference (US$$ - DRP)
 
Aug 6, 2006
8,775
12
38
In the SDQ Airport, you will find money changers before you go through customs and after this point. Those inside have signs claiming that they charge no commissions, and if you look at their rates, you will see why: they will sell you something like 35 pesos for your US dollar, and they will exchange the other way at around 47 of your pesos for one of their dollars. So exchange a small amount AFTER you go through customs, where the rates are better.

If you go to the upper level of the airport, where passengers arrive, you can get a taxi to the highway for $300 pesos, about $7.30. He will drop you off where you will easily get a bus as far as the Parque Enriquiilo for around $80 pesos. From there, you can get a cab to any hotel you wish. If you take a cab all the way, you will probably pay around $40 US or more, instead of under $10. If you only have one bag, a motoconcho wil take you to the highway for $150-$200 pesos.

I have found that there is ALWAYS a bus waiting for an extra passenger on the highway (la parada del aeropuerto) When returning, take a guagua in Santo Domingo bound for Boca Chica. The worst that can happen is that they will charge you double for your luggage, $140 instead of $70 pesos. There will be a cab or motoconcho at parada that will take you into the airport. It is about a 2 mile walk. If you do walk, walk against the traffic.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
In the SDQ Airport, you will find money changers before you go through customs and after this point. Those inside have signs claiming that they charge no commissions, and if you look at their rates, you will see why: they will sell you something like 35 pesos for your US dollar, and they will exchange the other way at around 47 of your pesos for one of their dollars. So exchange a small amount AFTER you go through customs, where the rates are better.

If you go to the upper level of the airport, where passengers arrive, you can get a taxi to the highway for $300 pesos, about $7.30. He will drop you off where you will easily get a bus as far as the Parque Enriquiilo for around $80 pesos. From there, you can get a cab to any hotel you wish. If you take a cab all the way, you will probably pay around $40 US or more, instead of under $10. If you only have one bag, a motoconcho wil take you to the highway for $150-$200 pesos.

I have found that there is ALWAYS a bus waiting for an extra passenger on the highway (la parada del aeropuerto) When returning, take a guagua in Santo Domingo bound for Boca Chica. The worst that can happen is that they will charge you double for your luggage, $140 instead of $70 pesos. There will be a cab or motoconcho at parada that will take you into the airport. It is about a 2 mile walk. If you do walk, walk against the traffic.

I somehow do not think The OP is hopping on a motoconcho to save $5 or going to Boca Chica on vacation, LOL!
 

AnnaC

Gold
Jan 2, 2002
16,050
418
83
I somehow do not think The OP is hopping on a motoconcho to save $5 or going to Boca Chica on vacation, LOL!


It's ok, he's trying to help :)

I would still like to hear from someone who resently used an ATM card and what the exchange on that was. Yes I know they charge 5 bucks for each withdrawel
 

jinty05

Bronze
Feb 11, 2005
925
38
48
You obviously do not share the Onassis trait of being a big spender. You certainly have mastered living on the cheap but for the quantity of dollars the OP is bringing I don't think she will suffer any great losses on exchange.

In the SDQ Airport, you will find money changers before you go through customs and after this point. Those inside have signs claiming that they charge no commissions, and if you look at their rates, you will see why: they will sell you something like 35 pesos for your US dollar, and they will exchange the other way at around 47 of your pesos for one of their dollars. So exchange a small amount AFTER you go through customs, where the rates are better.

If you go to the upper level of the airport, where passengers arrive, you can get a taxi to the highway for $300 pesos, about $7.30. He will drop you off where you will easily get a bus as far as the Parque Enriquiilo for around $80 pesos. From there, you can get a cab to any hotel you wish. If you take a cab all the way, you will probably pay around $40 US or more, instead of under $10. If you only have one bag, a motoconcho wil take you to the highway for $150-$200 pesos.

I have found that there is ALWAYS a bus waiting for an extra passenger on the highway (la parada del aeropuerto) When returning, take a guagua in Santo Domingo bound for Boca Chica. The worst that can happen is that they will charge you double for your luggage, $140 instead of $70 pesos. There will be a cab or motoconcho at parada that will take you into the airport. It is about a 2 mile walk. If you do walk, walk against the traffic.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
If you are concerned about getting banged $5/withdrawal, bring USD CASH.
BTW, PAYPAL only bangs you $1/withdrawal off their Debit/Visa. Just set up a pin before you leave.
Just fund it before you go. The exchange rate is close to the Interbank rate - $1 FEE.
 

AnnaC

Gold
Jan 2, 2002
16,050
418
83
If you are concerned about getting banged $5/withdrawal, bring USD CASH.
BTW, PAYPAL only bangs you $1/withdrawal off their Debit/Visa. Just set up a pin before you leave.
Just fund it before you go. The exchange rate is close to the Interbank rate - $1 FEE.

I like the sound of this, I'll look into it, thanks. Waiting for hammertown to tell me where he got 40 pesos for CND
 

rogerjac

Bronze
Feb 9, 2012
1,389
456
83
Whe I arrivied a month ago I had a few can dollars to exchange. The guys at the airport were offering 35 pesos. I told him he is nuts that the banks and casa de cambio is better. He said no and I walked away. Went to a casa de cambio and was offered 39 pesos for a large exchange. I declined and went to my bank Santa Cruz. It was a Saturday and they offered 40.5 but I still wanted more. The clerk said I would have to come back Monday when the currency guy was in. Monday I went the the best I could get was 40.3.......It was all he could give so I took it.....On 10000 can. I got an extra 13000 pesos for my running around.
 

Tamborista

hasta la tambora
Apr 4, 2005
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The reason for the crappy tasa on Loonies, is nobody needs them.
USD are used to purchase imports, Narco products and Real Estate.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
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Anna,

You have every option now to save, how long are you going for that this is such a concern?
Either bring USD, or fund PAYPAL account and get their DEBIT Visa card for $1/transaction.