Hi - Newbie here !

Welcome

Hi Lonewolf and welcome to DR1 - the best site ever for information on the Dominican Republic with a bunch of great folks to help you out.

I sent you a PM (private message) and from what everyone has told me, YES, the US dollar is pretty much accepted everywhere but change may be given in pesos so have small bills if you need to purchase souveniers and dont want to take pesos home.

welcome lonewolf to DR1. i would probably do a "search" on the subject matter you are interested in first.

again welcome...

Welcome, Lonewolf. Iberostar is just great! I was there about 2 years ago and it was fantastic. Enjoy your stay in my DR. Yes, mine (I'm dominican)


Zeus

Lonewolf said:

The exchange rate against sterling is very good at the moment so I want to get some if I can use them there.

Cheers

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Hello,

You will get some people saying differently but DON'T take dollars unless you want to waste money. I got back from DR yesterday and I used my visa debit card to withdraw cash from an ATM.

For example, RD$10,000 was charged to my account as ?158.77 and ?159.56 (different days). According to XE.com - The World's Favorite Currency and Foreign Exchange Site today that would be ?152.14 . When you remember that is a bank rate, not a commercial rate, I'm happy with that exchange when you take into account you won't get the base rate quoted on xe in the real world. Check what charge your bank will make (typically 2%) to make sure you aren't paying something stupid. Otherwise, you pay to change sterling to dollars then you pay again into pesos. The peso is (I think) tied to the dollar so you get a good rate anyway.

What dates will you be at the Iberostar Costa Dorada?? I will be there in March from Canada.

IberoStar was my son';s favorite place to stay...that speaks volumes!!!

Bring dollars, they are easily exchanged to pesos for your daily needs. Read abit here on DR1 to see who what and where to do your spending!!

youll have a ball>>>>>>>>>>>>>>>>DO YOU GOLF??? MMMMMMMMMM???

Hb

Hillbilly said:

Bring dollars, they are easily exchanged to pesos for your daily needs.

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Why dollars? You pay commision to exchange them from sterling, you get a less reasonable exchange from dollars into pesos when you spend them, then you pay commision (or a reduced exchange rate) back into sterling for any dollars left unspent.

Or you draw cash out as you need it, in pesos and get a better exchange rate and only one lot of charges. 10,000 peso is slightly over ?150. Much easier. Plus, most people I've met from the UK who bring dollars end up trying to convert prices pesos-dollars-sterling, if you only have one conversion to make in your head, pesos-sterling, you can work out what you are paying much easier.

Until someone can show me maths that demonstrate an improvement on what I'm saying, I'll stick with the hole in the wall!

But which ever you bring, just get out and spend it and have a ball!!

I dont have a clue as to the benefits of echanging your sterling to dollars where you live now...but as far as SPENDING the dollars in the dr....

I think its a bad idea to pay for things in dollars at each and every place you go..

the exchange rate some store will give you to convert the price to pesos that they are asking is usually way less than a cambio house would give you.. Plus i am sure a few places might not take the dollars...like a street venor not on the main drag, where he sees dollars a lot....and he cant do the math to convert....it happens once in a while...if you take the dollars, convert them in lump sums every once in a while...or if you see a good price one day convert a little more...

many times when the rate is say, 33.5 at an exchange house.....if you buy something in some store they might only give you 32 pesos to the dollars when they figure the price of the item ....then they are going to give you pesos back in change any way!!!!!!!!!!!!!!!!!! so what did you gain???

nothing

do it a little at a time so you dont end up taking 20,000 pesos back with you to home!

I just deposit my last peso's in mine and my GF's bank account before I leave...so i dont worry about it.....

plus i take about 1000 pesos with me, so i can buy something from the airport to where ever I get my first exchange done, when i go back the next time....

good luck

bob

KeithF said:

For example, RD$10,000 was charged to my account as ?158.77 and ?159.56 (different days). According to XE.com - The World's Favorite Currency and Foreign Exchange Site today that would be ?152.14 .

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Taking your highest ?159.56 figure that was giving you 62.67 pesos to ? at a time when cambio rate for changing sterling cash in Puerto Plata was below 60, so yes, advantageous. But there are those who don't want to use ATMs because of some of the er.........unfortunate incidents which have occasionally occurred and it's always a good idea to have at least some dollars in cash. Equally, Lonewolf you can change sterling cash in cambios and banks here if you don't want to be working calculations in 3 currencies. If you bring ?50 notes I might even do it for you myself . I save them for my once every 3 year trips back to UK because it's easier to transport than loads of ?10s & ?20s.

And yes, Iberostar is a nice hotel. We live about 5 mins drive away and my other half is a golfer so if you want to play with a Brit. resident you can let us know. He's on the same team as Hillbilly so you'd also meet the DR's most experienced expat.

Not only do I not charge commission but on the rare occasions I change for ?50s I tend to give people slighly above what they'd get in a cambio here because it's worth it to me to get ?50s. Let's do a little real time experiment to see if it's worth it to you. On Friday I'll be passing by the best known cambio in Puerto Plata, RUSA's. Let me check the rate for sterling cash which you would get Friday changing to pesos. I'll post it here. Then on Friday you find out what it would cost you to buy pesos in UK and post it here. That way we'll know for sure whether it is in your best interests.

Which part of UK are you from?

lonewolf, go after lambada/keithF advice.
i use my cards from london banks with better exchange rate than one on the street. i used to bring pounds and just change them to pesos.
dollars are only necessary upon arrival and departure to pay for tourist card (10 dollars on a way in) and departure tax (20 dollars on a way out).

Lambada said:

If you bring ?50 notes I might even do it for you myself . I save them for my once every 3 year trips back to UK because it's easier to transport than loads of ?10s & ?20s.

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Now if only you'd offered me that deal 12 months ago! After five trips in the last twelve months, I'll probably only have one or two over this coming year (skint now!)

If you are still wanting ?50's please let me know and I'm sure we can work out a mutually acceptable rate for my next visit!

KeithF said:

Now if only you'd offered me that deal 12 months ago! After five trips in the last twelve months, I'll probably only have one or two over this coming year (skint now!)

If you are still wanting ?50's please let me know and I'm sure we can work out a mutually acceptable rate for my next visit!

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How very kind, KeithF, thank you. When is your next visit? Lonewolf isn't coming until October, I gather, but that's ok.......I do long term saving of ?50s for UK. BTW in case Lonewolf doesn't see the message above re realtime experiment, it might be handy if you too checked UK rate for buying pesos on Friday, if it isn't too inconvenient for you. That way there'll be a thread which proves (I think) once & for all that changing currency ? to $ to RD$ is more expensive.

Lambada said:

...................
And yes, Iberostar is a nice hotel. We live about 5 mins drive away and my other half is a golfer so if you want to play with a Brit. resident you can let us know. He's on the same team as Hillbilly so you'd also meet the DR's most experienced expat.

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Oh my GOSH!!!!!! Have I GOT to go out golfing yet again?? :bunny: :bunny: :bunny:

What a hard life you make for me woman!!

What part of the old Motherland are you from Lonewolf? Let me know if you want a game of golf here, in Playa Grande or down at Santiago & we can try to work out a suitable timetable.
(If you don't play golf, we can still work out some suitable timetable - we just don't mention this to our respective "Other Halves"!! :cheeky: ) ~ Grahame.

RUSA cambio in Puerto Plata was 61 pesos to the ? this morning & 33.3 to the US$. Out of interest Yahoo currency converter is showing 65.88 to ?. You always get less than that at cambios here for ? but much closer to Yahoo rate for $.

OK Lonewolf, I'll let you do the maths comparing with whatever rate you would get in UK today.

I am from the UK and bring a few USD as a back up, but always use local ATMs to withdraw Pesos, there is no benefit with GBP to USD to Pesos, go straight to Pesos from GBP...have a great time the exchange rate is great for UK visitors at the moment!

Gary