Don't change money on the street.

AZB

Platinum
Jan 2, 2002
12,290
519
113
I was approached by 2 guys to change dollars on the street today. But I wanted to buy dollars instead. They quoted me a lower price just to get me to change money. But when I was actually handed the money I found the exchange rate to be much highter than what was being sold for in a casa de cambio. Ex: they were selling the dollar to me for 21 pesos / dollar, while I can get a dollar for 20.30 pesos easily anywhere where the service is safe and without pressure. I simply walked away from them and went inside a casa de cambio. I saved 700 pesos (bought 1k dollars)and left assured that the bills were real (as opposed to fake).
These street guys are fast talkers and put alot of pressure on you. They don't give you time to think and want the transaction done quickly so you will be left all confused in the end.
So take my advice and go to a casa de cambio where you will be treated with respect and without pressure talk.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Pay attention to AZB. This is very good advice. Among the risks you run on the street is getting counterfit pesos. Have you noticed on most supermarkets and many other business as well check the bills you give them--especially those of RD$100 or more--under a special light before giving you your change? This is because there are a lot of counterfit bills floating around. If you change your money at a commercial bank or an established exchange bank, the money you get will be ok. But if you change money with one of those guys roaming the streets looking for visitors with dollars to change, you are likely to end up shortchanged.

Think of about it. These guys know you are a tourist, probably don't speak much Spanish, and wouldn't have any way to find them again if you discover you have been cheated. A commercial bank or established exchange bank gives you an address that you can go back to, confident that the person who changed your money will still be there.