50 and 20 peso notes

Eddy

Silver
Jan 1, 2002
3,668
219
0
A quick questions for those living or doing business in Santiago or Santo Domingo. Are there any 50 and 20 peso notes available. The banks in Sosua and from what I hear Puerto Plata don't have any. (It's been a few weeks) If not, does anyone know why. No speculation please.
 

HOWMAR

Silver
Jan 28, 2004
2,624
2
0
I was in the bank this AM in Puerto Plata and asked for a few hundred in 10's and 20's. They they are in fact in short supply and are being forced to use the new 10 and 25 peso coins. Although you don't want speculation, my guess anyway is that the government is trying to convert to the more durable coin versus banknotes that have a shorter lifespan.
 

Eddy

Silver
Jan 1, 2002
3,668
219
0
I was in the bank this AM in Puerto Plata and asked for a few hundred in 10's and 20's. They they are in fact in short supply and are being forced to use the new 10 and 25 peso coins. Although you don't want speculation, my guess anyway is that the government is trying to convert to the more durable coin versus banknotes that have a shorter lifespan.

I could understand that, but they don't even have 25 pesos coins. I just got back from Banco Popular in Puerto Plata and had to argue to get 2 packs of 20's and 4 rolls of 25's. Forget the 50's.
 

Rocky

Honorificabilitudinitatibus
Apr 4, 2002
13,993
208
0
111
www.rockysbar.com
I've been told by our banks that the fifties are discontinued.
They plan on popularizing the 25 pesos coin and dispense with 50's altogether.
 

tflea

Bronze
Jun 11, 2006
1,839
164
63
Agree

I agree with both HOWMAR'S comments and Rocky's. The cambistas I know are bitching about the same thing. Leonel is truley on an austerity program that, while not evident in so many sectors, he's got IMF and WB loans that have caveats that cannot, in most respects, cannot be broken, because if they are, the cash flow stops, and this country depends on performance for those type of loans.
hope I have not sounded like whathisname Nals or Snyder.
:bunny:
 

Celt202

Gold
May 22, 2004
9,099
944
113
The intent has always been to discontinue 10 and 20 peso bills. It's no surprise that they woud do away with 50 peso notes as well. I'm surprised that there have been so many new 10 and 20 peso bills in circulation since the new 10 and 25 peso coins have been out.

I suspect the government has hesitated in pulling the bills from circulation because of resistance on the part of the population to the new coins, especially the 25 peso coin.

You can count to 20 using your toes and fingers but getting to 25 is a new challenge altogether.
 

HOWMAR

Silver
Jan 28, 2004
2,624
2
0
I agree with both HOWMAR'S comments and Rocky's. The cambistas I know are bitching about the same thing. Leonel is truley on an austerity program that, while not evident in so many sectors, he's got IMF and WB loans that have caveats that cannot, in most respects, cannot be broken, because if they are, the cash flow stops, and this country depends on performance for those type of loans.
hope I have not sounded like whathisname Nals or Snyder.
:bunny:
You would have had to use big words like seigniorage revenue. seigniorage - Definitions from Dictionary.com
 

tflea

Bronze
Jun 11, 2006
1,839
164
63
kiddin

I was kiddin', sort of. I usually don't get much past the first sentence or two so I don't know what's written afterwards....:tired: