Peso Official Rates

ricktoronto · Jun 17, 2003

I see from Bloomberg and Yahoo (which I think connects to Oanda) the RD$/US$ rate dropped from 31.90 - 32 to 27 - 28.6 overnight.

Once this Banco Popular thing quiets down I'd be interested to find out from residents what the US$ to buy pesos cash rate is for the next few days .

I am coming down on the 28th and while budgeting is not a big deal it would be helpful to know cambio rates on the buying peso side.

Ken · Jun 17, 2003

Yes, we are interested to know that, too.

ricktoronto · Jun 17, 2003

Let's Hope the Expert Expats Can Keep Us Posted

We have luckily quite a few in country and hopefully a few days of data will give us the straight dope.

I will post the cambio rates for cash US$ in Boca Chica when I get there.

Ken · Jun 18, 2003

ricktoronto, right now nobody knows. Other than that the government has the pressure on to look better than it is. I don't think this can last, but when the dike will spring a leak isn't known.

golo is the best source for what is going on. I can report what the rate is in Sosua, but have no idea what it will be tomorrow or next week. I'm just stunned that it dropped as fast as it did.

ricktoronto · Jun 18, 2003

Where's It ($) At Today?

Ken said:
ricktoronto, right now nobody knows. Other than that the government has the pressure on to look better than it is. I don't think this can last, but when the dike will spring a leak isn't known.

golo is the best source for what is going on. I can report what the rate is in Sosua, but have no idea what it will be tomorrow or next week. I'm just stunned that it dropped as fast as it did.

In Sosua? It is hard to imagine the gov't dictating a rate when there is no desire to buy pesos for $, it becomes pretty one sided and that would influence the peso to fall to a level represnting demand.

Ken · Jun 18, 2003

What are you talking about? Last week it was in the 30s in Sosua and elsewhere in the country, now it is 28. If you have been reading golo's posts, you would know that the rate has been artificially depressed throughout the country by government pressure. 28 seems to be the rate that has been agreed to. How successful the government will be remains to be seen.

I suggest you keep following golo's posts and those of others to try to get a sense of what is going on right now. Because it is confusing to those of us living here, there have already been posts on the subject this week and there are certain to be more, if only to compare notes.

ricktoronto · Jun 25, 2003

An update please?

I am leaving Saturday and with the lack of similarity among the DR1 front page rate, Bloomberg and Oanda/Yahoo and that post about cambios selling US$ for RD$39 yesterday - has anyone got a current buying rate ( buying US$/selling me pesos ) today?

It cannot possibly still be only 27 or 28.

Barnabe · Jun 25, 2003

Yesterday's rate at Vimenca Lincoln 34
Today is 33
Say it's due to IML agreement...

I changed a few 000's at Plaza Central, at 34.

Money changer is a good business here these days...

Barnabe

ricktoronto · Jun 25, 2003

I Wonder if Banco Reservas at SDQ Pays "Official" or "Cambio"

Barnabe said:
Yesterday's rate at Vimenca Lincoln 34
Today is 33
Say it's due to IML agreement...

I changed a few 000's at Plaza Central, at 34.

Money changer is a good business here these days...

Barnabe

I am landing at 7:47 pm Saturday and need RD$ and the cambios may not be open (will not be, is likely) in Boca Chica by the time I get there, do you think BR in the SDQ baggage area will pay street rates or "Government" rates? If so I will only do like $RD 1000 worth until Sunday.

Is there a legit cambio in the airport other than BR? I got OK rates in May frm BR and also manged to inadvertently wander from the BR window to the exit and missed customs entirely, oops.

Quite handy, that.

Ken · Jun 25, 2003

Get a reading from the board on Friday; when you see what BR is offering at the airport and compare that with what others were getting on Friday, you will know what you should do.

ricktoronto · Jun 25, 2003

I may be desperate anyway

I hope someone says the rate on Friday (here that is) so I can go informed to BR.

I recall upstairs wasn't there some non-bank cambio? Actually isn't there one next to the tourist card window?

I go there often and ironically I cannot recall as I buy my tourist cards in MIA airport and always have oodles of pesos that I keep for the next visit - just this time I got rid of them from the May trip as I suspected they'd fall in value. Now all I have is about 1000 RD$ for the day I arrive.

I guess it may have to do if BR tries to bone me.

gerd · Jun 25, 2003

Are you carrying russian Rubel only?

Do you really believe anyone would refuse your US$ and insit you pay in RD$?

dale7 · Jun 25, 2003

I will let you know Friday, Rick what is happening in Santo Domingo

You know who, lol, told me that most banks are buying US dollars between 33-34 including Western Union in Santo Domingo today(Wednesday.) But small exchange cambios on the street are offering 35plus. I will call her on Friday and let you know, maybe she can find out what the airport exchange is, can't be positive about that though but I will try for that as well. I will email you late Friday.
dale7(Howard)

dale7 · Jun 27, 2003

According to Y

Rick
Just called her by cell at work. Banks in SD are offering 31-32. She didn't exchange money today I sent because of low rates. She asked a couple of tourists at her new job, who flew in today/yesterday and one/two said about 30.?something to 1US dollar. Between 30-31, couldn't remember the exact decimal and number after 30. Hope that helps out some but who knows what tomorrow can bring?
dale7(Howard)

Ken · Jun 27, 2003

Same in Sosua today, Rick: 31-32.

Tomorrow? As Dale says, nadie lo sabe.

ricktoronto · Jun 27, 2003

I'll Do BR At SDQ and then post

I'll do $50 US tomorrow on arrival if they are open, then on Sunday and occasionally next week I can post the Boca Chica cambio rates.

31-32 beats 27.5 only 4 weeks ago. And 16.75 last October.

GirlieGirl · Jun 28, 2003

POP

Puerta Plata seems to have an overall 28 to 1 going. In Costambar it is at 30 and at Cabarete it seems to be 28 but Western Union is exchanging at 30. Hope this helps.

Keith R · Jun 28, 2003

Re: I'll Do BR At SDQ and then post

ricktoronto said:
I'll do $50 US tomorrow on arrival if they are open, then on Sunday and occasionally next week I can post the Boca Chica cambio rates.

31-32 beats 27.5 only 4 weeks ago. And 16.75 last October.

So Rick, what's the scoop? What did you find out upon arrival today? I'm quite interested to know, as we plan strategy for our arrival @ SDQ next Wed.

Regards,
Keith

dale7 · Jun 28, 2003

Today(Saturday),
In Santo Domingo, peso was around 34 to 1 us dollar. Since people are always asking about rates I think I will just occasionally post the rates when I hear them usually two or three times a week. What is so crazy is that in the morning the rates at a bank could be 32 to 1 and later in the afternoon be 34. My source is baby's mom who lives in SD and may not reflect all rates, at all times of day, and because of variances between different cambios, Western Union, and various banks give me a +/-1 when I post rates and that should be a pretty acurate picture.
dale7(Howard)

Keith R · Jun 28, 2003

Thanks, Howard, but I was particularly interested in what one gets at SDQ airport when you arrive. I know I can better rates at cambios in SD. But I have to get from SDQ to SD first!

Regards,
Keith

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