Dollarization watch

Adrian Bye

Bronze
Jul 7, 2002
2,077
138
0
Guys,

I've known for a while that cars here in the DR are priced in USD. But I am starting to notice that other businesses are dollarizing.

For example, just recently CECOMSA (the biggest computer store in Santiago) has converted all their prices to USD.

Has anyone noticed other instances of this?

Adrian
 

amy2761

Island Body
Mar 16, 2003
881
0
0
41
www.dr1.com
Yes, absolutely.
There are restaurants as well as stores in Cabarete who have US dollar pricing. (i.e. Las Brisas and Trendsetters) :bandit: Granted Cabarete is a tourist town and people tend to pay in dollars when they can.

Stay well,
Amy
 

XanaduRanch

*** Sin Bin ***
Sep 15, 2002
2,493
0
0
The True 'Barometer' ...

... will be when CrissCo reports that his afternoon delights are demanding US$7.50 instead of RD$300!
cheeky-smiley-033.gif


:: wink ::
 

MrMike

Silver
Mar 2, 2003
2,586
100
0
52
www.azconatechnologies.com
I am beginning to change my inventory to dollars, starting with inverters and batteries.

I will still be posting prices in pesos (most likely) but they will be recalculated daily based on a dollar figure.

Prodacom has been doing this for some time now in Santiago, and whenever they are unsure what the exchanged rate is or what it may be they will only quote prices in dollars.

Luis Hernandez (my competition for inverters) has been dollarized for some time, but still quotes prices in pesos based on the rate of the day.
 

GirlieGirl

New member
Jun 19, 2003
397
0
0
Yep Yep Yep

We have to price our merchandise in dollars... each little bit adds up. For awhile we priced in dollars and pesos on the tag using a general rate of 35 because it hovered there for quite some while. Now the prices are entirely in dollars and if you want to pay in pesos we charge based on the current CABARETE EXCHANGE BANK rate. We also used to give change in dollars (exanple if someone bought a 15 dollar item with a 20 dollar bill we would give them 5 dollars) now we do not keep any dollars on hand and all change is given in pesos. With us buying 99.9% of our things in dollars, that is the best way to do it.

GG
 

ERICKXSON

Bronze
Dec 24, 2002
1,222
0
0
47
www.creambay.com
I'm Importing Cellular Phones and to tell you the thruth i was offering discounts up to RD1000 pesos per invoice if they pay me with dollars but things have changed in the past 3 weeks i'm not accepting pesos at all, can you imagine running around with 44,000 to get $10,000 Dollars every week! what a pain.
 

Barry

New member
Jun 28, 2003
88
0
0
You may want to consider Euro's vs. jumping into dollars.

The dollar hit an all time low against the EURO last week, the Canadian Dollar is also doing great vs USD.

The weak dollar is adding to the difficulties of inflation in the DR and the downward spiral of the DOP against ALL other currencies.

The DOP/USD rates would be far worse (for the holder of DOP) if the dollar were still strong.

Just my 2 cents.
 

Chirimoya

Well-known member
Dec 9, 2002
17,850
982
113
When I visited a couple of weeks ago, my favourite restaurant in Samana was displaying prices in euros along the peso prices, presumably to show what good value the food was in relation to the euro, and in case any returning tourists were shocked at the difference in prices compared to just a few months ago.

An upmarket toy shop in Santo Domingo was displaying prices in dollars a few months ago, but when I went in last week they were being more discreet - no prices of any sort are on display and they calculate the day's price for you on request.

Chiri
 

MrMike

Silver
Mar 2, 2003
2,586
100
0
52
www.azconatechnologies.com
Miami Airport

I noticed the sign at the change place in the airport (Wednesday) said 18-29 for Dominican pesos. Has anybody tried to buy or sell pesos OUTSIDE the country? I wonder if they would actually buy pesos for that amount, then I could sell the dollars again once back inside the country...I suspect it's just been a very long time since they updated the sign and maybe won't actually touch pesos at all, if I hadn't been in such a hurry I would have asked.