currency

dobsquad

New member
Jan 14, 2002
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please tell me if the banco de mexico currency is the same as the dominican currency? I went to my bank and asked for dominican pecos and this is what I received. Traveling in 2 weeks
 

Marc

New member
Jan 1, 2002
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www.haugen.ca
Oops!

Cash them back in! You can't buy DR pesos in the US/Canada...but not sure where you are posting from. Bring your own currency and cash it once you get here. Have $10US for the entry VISA, and some US/Canadian (US better) for the taxi if that is how you're getting to the hotel. Once settled in, there are change places at every turn.

This is how it is on the north coast, anyways. Feel free to correct me if I'm wrong about the south.

marc
 

jjsk

"Going for Gold"
Jan 1, 2002
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Re: Oops!

Marc said:
You can't buy DR pesos in the US/Canada...

marc

I bought DR pesos at Mirabel airport (Montreal, Canada) less than a month ago...
 

doug

Member
Jan 1, 2002
266
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Currency Screw up

You can buy DR pesos in Canada but at a lousy rate! Do not "cash" your notes in. Take them back to your bank along with your receipt and explain "thier" mistake and get what you paid for them. If you cash them in, you'll likely get a lot less. Once you've done this, just bring US dollars to the island and exchange once there!
 

Hillbilly

Moderator
Jan 1, 2002
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Absolutely Correct!!

Do not buy currency at any bank or airport before arriving. Just have a few small bills for RedCaps and Bellhops ($1 per bag). Same for Taxi driver. Figure RD$17 per dollar and ask how much before you get in. Someone here or over in FAQ can tell you how much it costs from your airport to your hotel..
In the DR there are Money Exchange Banks which provide an excellent exchange for your dollars, Euros or Pounds...And they will give you a receipt. NEVER, never buy money on the street, no matter what they offer you, you lose!!!

HB
 

Marc

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Jan 1, 2002
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DR pesos in Canada

my wife worked as financial services manager for the bank of Montreal in Canmore then in Calgary up to a year ago. Guess things have changed since then! Thanks for the info.

Hillbilly: I need more info on NEVER changing money on the street....are there exchange "banks" in Sosua? I earn and spend pesos, so it is for my education, not so much for my personal use...

marc
 

vixen

New member
Jan 15, 2002
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oh no

I work at a bank here in America and spent $50. US dollars and got $730. Dominican dollars..............did i get ripped off??
 

doug

Member
Jan 1, 2002
266
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Yes

It cost you about 8.75 as close as I can figure(thats us dollars)130 pesos=13 bucks Canadien....Or maybe closer to eight bucks
 

Tony C

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Jan 1, 2002
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$730 Dominican pesos for $50US? Yep you got fleeced! That come out to an exchange rate of 14.6%. The current rate is hovering around 17%.

In Miami I just drive down to the Allahpata area(the Dominican slum area) and exchange there at various travel agencies. last time I got 19%

BTW Marc never pay a cab driver in Dollars. Why should we? The currency is Dominican pesos.
 

Marc

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Jan 1, 2002
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Tony C

Gee Tony, I have lived here a whole year and never realized that the currency is Dominican pesos. What do these "paysos" look like?

If you come from a country in which you have to buy Dominican pesos at 14%, you probably won't have pesos when you get here. How many tourists get off the plane with their wallets stuffed with pesos?

To get from the airport to your hotel are you going to write the Cab driver an IOU? Of course you can pay in pesos. If you don't have any when you arrive, have some US cash in denominations to pay out what HB described below.

marc
 

Tony C

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Jan 1, 2002
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I love it when I tip the baggage handler or pay a cab driver in pesos. The look they give me is priceless. "What? a tourist paying in Pesos?"
Marc, you are such a world traveller how can you not have any pesos in your wallet. For does who are arriving for the first time the solution is simple. tell the Cabbie to bing in your bags while you go change some greenbacks at the front desk.
For the baggage handlers $1 dollar per every 2 bags is enough!
 

Hillbilly

Moderator
Jan 1, 2002
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Marc, you asked about Never, never in the street...

By the street, I meant those guys on every corner of Sosua and in some areas here in Santiago that say: "Pssst, meester, you got dollars? I geef you 18.50!!""

You will get ripped off as sure as hooting.

At any reputible exchange bank you get a receipt showing the amount changed and at what rate....

HB