Friday in Santo Domingo...Dollar at 34?

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Snuffy

Bronze
May 3, 2002
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We were approached by two guys in Santo Domingo willing to change our dollars for pesos at 34 to 1. When I got home...next day found the dollar still trading at 32.5 to 1. So I assume these guys were scammers. I did notice that the one guy pulled out his peso roll and started flipping through it to get my attention but the roll was small and contained small notes....500's & 100's. Normal should be 2000, 1000, etc.

So thought I would ask...are you guys getting 34 to 1 in SD? If not then all should beware of this. They will probably give you fake notes or try and give you less than you should receive. who knows.
 
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gary short

Guest
I had a kid accidently drop not one but two 2000 peso bills into a crevace between his money box and the counter at an exchange house in Sosua. I recounted the money and reached down and grabbed the two bills. He was genuinely embarrased. He obviously hasn't honed his skills.
 
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amy2761

Island Body
Mar 16, 2003
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Just a hint ... Search :)

Try the thread called "Today's Exchange Rate" ... you may find the information you are looking for there.

Stay well,
Amy
 
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Snuffy

Bronze
May 3, 2002
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Amy, I posted this more for the warning than anything else. I know there was no 34 to 1 on Friday. Not everyone reads the "Exchange Rate" thread. Many more read the "Living" thread.
 
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Chris

Gold
Oct 21, 2002
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www.caribbetech.com
Snuffy, I think this warning is well deserved for the newby's who may think they're getting a 'deal' on the street. They are more liable to be getting a 'steal' on the street. :ermm:

Like everything else in the DR, deal with reputable dealers only in most everything you do, and insist on a good and fair transaction. You will help all of us to create a better experience for locals and visitors alike.
 
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Criss Colon

Platinum
Jan 2, 2002
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yahoomail.com
I Was Cheated By The "BEST"!

35 years ago in Saigon! The guys would come up to you on the street.Offer a great rate! Say something like "We have to be careful the Police are watching us!" That gets you looking around! I saw these guys count the money, bill after bill into my hand!There was NO WAY they didn't give me all they said they would! Yet when you took the money out to count it there was always a 20 % short!! I learned fast! I changed money in taxis.What could the driver do,jump out of his taxi and run?? Or in the "Indian" taylor shops.

NEVER change money on the street! Anywhere in the WORLD!!!

Oh!,32 to 1
cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc
 
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rellosk

Silver
Mar 18, 2002
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Rocky said:
These street changers have all sorts of tricks to scam you and the higher rate offer is just the bait.
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You would think that if they are trying to scam you, they would offer you more than a 4% premium over the other cambios.

But you are right, unless you are familiar with the turf, in general the street vendors should be avoided, or at least dealt with very carefully.
 
Hillbilly

Hillbilly

Moderator
Jan 1, 2002
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Having wittnessed the above hussle, I must say that comments like "eleven finger counting" and "five finger discount" were heard in our little group.
Imagine, if you will, three fairly large white guys walking up Duarte Street in Santo Domingo, ladened with shopping bags. :p:p A sight to behold. Obviously targets, but oh so wise....sort of felt sorry for the scammers.

And let me tell you, Ol' Snuffy knew his way around up there, but the Hillbilly was better in Chinatown:p They didn't know I had family down there :p:p:p

Great day with a couple of cool guys. D@mn toothache sort of spoiled my bubbly personality, but the cigars and the company were great...(Yes, I got it fixed, why do you all think I know so much bout dentists!?:D)

HB :D:D Babbling today
 
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Snuffy

Bronze
May 3, 2002
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I have to be honest here and say that I do exchange on the street from time to time. I have a specific location and specific guys I change with. I'm sitting in my SUV....I calculate the money....he hands me pesos....I count it....tuck it away....and hand him the dollars. I've seen the same guys there for years. But often I ask them what their rate is....if they are only above the exchange house by .20 or less......I will normally go to the exchange house. It is simply safer. I don't recommend changing on the street. Go to exchange house. Right now the rate is stable so you will not find a big difference from one to another. But in the Hipolito days there might be a one peso difference. You would call around and find the best rate.
 
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laurapasinifan

Silver
Sep 19, 2005
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the guys on the street in santiago will often offer alittle more that the cambios that have a store front. Many times they are all along a certain stretch of the street. They want the dollars, and i think they may offer a little more to get your dollars instead of the next guy.....its only about 1.5 pesos more per dollar. If you are approached in an area that is not known for changing money, Id be leery. I would get out of the car, unless i knew the guy from previous transactions. i dont want to be sitting in my car when he runs off with my cash!

bob
 
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Snuffy

Bronze
May 3, 2002
1,462
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If you are getting 1.5 more pesos then please allow me to join you next time to exchange money. That is an awesome deal.
 
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gary short

Guest
I've found that my bank gives as good a rate as the street guys. Why mess with all that B.S. on the street.
 
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MrMike

Silver
Mar 2, 2003
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www.azconatechnologies.com
Banks and official exchange houses always give a better rate than street guys, and usually give the same rate to each person, gringo or not.

My rule of thumb is that if they ask me, the answer is no. No serious money changer is going to walk around asking people if they want to exchange money.

You should be dealing with a youngish female in a polyester buisiness suit behind bullet proof glass who gives you a little receipt in the form of a scrap of paper from an adding machine, anything else and you are probably getting ripped off.
 
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laurapasinifan

Silver
Sep 19, 2005
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some of you guys must have seen the areas where there are at least 10 guys trying to exhcnage money on the street! I have seen it in La Vega, and Santiago...especially santiago! they all have huge rolls of money and a car parked nearby that they go to the trunk once in a while! I doubt these guys are going to rip you off and run away. My buddy says they give the best rate, and he should know he exchanges a lot of money. He has one or two guys he likes , and if he doesnt see them he goes around the block again.

I remember a guy in Sosua that wanted to exchange pesos for dollars. I asked his rate, and it was average, I said I can get XX in santiago..he said NO WAY...i said sure... I lied about my rate, but he moved with his price and actually offered .25 pesos more than I HAD gotten in santiago.....

I would worry about counterfit 2000 peso bills

my GF father who works at a bank said there are a lot going around...so going to a cambio house and taking the time to check the bills is a same piece of insurance if you feel uncomfortable on the street.

bob
 
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Ricardo900

Silver
Jul 12, 2004
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I've used street vendors when arriving on late flights and don't want to use the ATM late at night. There's a grocery store that exchanges money all hours in the night in Santiago, across from a plaza, don't remember the name.
 
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Snuffy

Bronze
May 3, 2002
1,462
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Well in Santiago, I've been here for five years, you drive up, sit in your vehicle and exchange money. Like I said, I have seen the guys for years, they are older guys. I can probably run five times the speed they can. They are not going to try and run with your money. You will usually see several SUV's pull up for money. Many dominicans use their services. I don't recommend changing on the street. I'm addressing that to people who have not been here for a long period. Once you have been here and understand then you might try them.

!!!!!!!!!!! You should always take the peso notes first. You hold them in your hand and count them and look at them. Then you hand over the dollars. A changer can hold the bills in such a way and count them so that it appears that he is right when in reality he has folded one or two bills back under and back into the count. !!!!!!!!!!!!!!!!
 
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MrMike

Silver
Mar 2, 2003
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It totally escapes me why anyone would want to do this.

1) it's illegal
2) They street guys never operate more than a few blocks from a legit exchange house (probably that's where they got the currency they're selling you)
3) You half to watch closely to see ifyou are being ripped off, unlike at a legit place
4) You are standing on the street waving cash around which common sense tells us is not usually a good idea.
5) The rates are not better, and are usually worse
 
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rellosk

Silver
Mar 18, 2002
4,169
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MrMike said:
5) The rates are not better, and are usually worse
Click to expand...
Not true, especially in Sosua where it has become increasing necessary to negotiate with the cambios.
 
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