What the hell is going on?

Eddy

Silver
Jan 1, 2002
3,668
219
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It?s been months now that the banks have no coins or bills. 5,10 & 25 pesos coins are nowhere to be found. Even the old 20 pesos notes are hard to find. Now 50 pesos notes are getting scarce. Supermarkets are giving candy and ?chicklets? as change. Nobody seems to give a sh*t. Does anyone have a clue what?s going on? Should we start to use the Haitian ?Gourde? as currency? Somebody tell me PLEASE.
 
Mar 2, 2008
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Eddy,
I'm sure someone knows more about this than I do, but since you seem as though you really, really, really want an answer, I'll make an attempt.
I understand the DR government has not paid up on a past bill from the Canadian Company that mints the coins, so the DR has not received any shippment of coins for several months or more.
I don't know why the bills are not paid, so I'll leave that up to someone else.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
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The lack of RD5,10, 25 coins is beyond a small problem....it is out of f_ _king control. Whomever is reponsible for paying the mint for coins should be strung up by his granos on a clothes line.

NOBODY has change, not even banks. I went to 4 banks yesterday to find change, and did not get a single coin. I am seriously going to try to pay for my groceries tommorow with Chiclets and Halls.

tambo'
 

Tallman1818

New member
Nov 19, 2007
393
12
0
The lack of RD5,10, 25 coins is beyond a small problem....it is out of f_ _king control. Whomever is reponsible for paying the mint for coins should be strung up by his granos on a clothes line.

NOBODY has change, not even banks. I went to 4 banks yesterday to find change, and did not get a single coin. I am seriously going to try to pay for my groceries tommorow with Chiclets and Halls.

tambo'

Some guy in San Pedro de Macoris paid a compra with Mentas,lol!!!
 

Eddy

Silver
Jan 1, 2002
3,668
219
0
Eddy,
I'm sure someone knows more about this than I do, but since you seem as though you really, really, really want an answer, I'll make an attempt.
I understand the DR government has not paid up on a past bill from the Canadian Company that mints the coins, so the DR has not received any shippment of coins for several months or more.
I don't know why the bills are not paid, so I'll leave that up to someone else.

Anyway, this is not good for tourism. Yesterday a tourist was charged 100 pesos for a 25 peso item because the store did not have change. Leonel and his croonies must be embarassed. "Just joking" nothing would embarass them. I'm just wondering why the Rest. and Hotel Ass'ns are not putting pressure on the Gov. As a matter of fact, where is this stupid association. When it come to fighting to extend the hooker bars operating hours, they are really active but for something really important they don't exist. This crap can't go on much longer or all the businesses will have to close or have everything priced at multiples of 100 pesos . Some business owners went to the bank today to get $$ to pay the employees. All they got were 2,000.00 notes. How are the employees going to pay for the groceries etc.
 

jojo2130

New member
May 30, 2005
492
2
0
Maybe Its My fault ?

Hey ,

I have been saving the coins for the past 3 years since I landed. I have one of those Ketchup gallons full of "silver" and 2 gallons of Single Peso coins.

Am I causing a shortage ?
 

mike l

Silver
Sep 4, 2007
3,157
466
0
Anyway, this is not good for tourism. Yesterday a tourist was charged 100 pesos for a 25 peso item because the store did not have change. Leonel and his croonies must be embarassed. "Just joking" nothing would embarass them. I'm just wondering why the Rest. and Hotel Ass'ns are not putting pressure on the Gov. As a matter of fact, where is this stupid association. When it come to fighting to extend the hooker bars operating hours, they are really active but for something really important they don't exist. This crap can't go on much longer or all the businesses will have to close or have everything priced at multiples of 100 pesos . Some business owners went to the bank today to get $$ to pay the employees. All they got were 2,000.00 notes. How are the employees going to pay for the groceries etc.

I agree it's not good for tourism, but as a local I do not play the game.

If my item's ring up to 102.95 , I give 100 and walk.

When they give candy , I save it for the next time and give it back.

This discussion came up before and the reason given for the coin shortage was that children were saving coins in Bamboo (piggy banks).

The banks were supposed to be prepared to pay a premium for coins retrurned.

Back to plastic for me,,,,,,,,
 

jaguarbob

Bronze
Mar 2, 2004
1,427
60
48
was walking along Mella today,nearv La Sirena,and some small stores had handwritten signs asking for Manudo,change,for 20%profit...what a country
bob..
 

Eddy

Silver
Jan 1, 2002
3,668
219
0
I agree it's not good for tourism, but as a local I do not play the game.

If my item's ring up to 102.95 , I give 100 and walk.

When they give candy , I save it for the next time and give it back.

This discussion came up before and the reason given for the coin shortage was that children were saving coins in Bamboo (piggy banks)

The banks were supposed to be prepared to pay a premium for coins retrurned.

Back to plastic for me,,,,,,,,

No problem with what you're doing. Only it does cut the profit margin. The other day, my cashier had to turn down a sale of a bottle of water (10 pesos) because the customer wanted to pay with 500. That's the smallest he had. Another wouldn't accept the "toilet paper quality" 20 pesos notes that I can sometimes get. As for plastic, not everyone has it or want's the hassle of processing it. I guess it's time to get the US$ going. Notice to all US and Canadian tourists, bring your small bills and coins in. We'll take them.
 

BermudaRum

Bronze
Oct 9, 2007
1,208
372
83
was walking along Mella today,nearv La Sirena,and some small stores had handwritten signs asking for Manudo,change,for 20%profit...what a country
bob..

Two retailers are doing the same thing in POP. Jose Luise and Tropical Supermarket pays the % to motor conchas and thier problem is solved.
Told Playaro in Sosua about it, they couldn"t give a s_ _ t!
maybe because the vender is giving them free halls!! :pirate:
 
Sep 20, 2003
1,217
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The Glorious Gourde

Why not just start using the Haitian Gourde, as a form of protest? Why not? Would that be techincally illegal in the Dopminican Republic?

In the United States there are resturants and supermarkets that accept Mexican Pesos.

Why not the Gourde in the Dominican Republic?
 

bachata

Aprendiz de todo profesional de nada
Aug 18, 2007
5,341
1,246
113
Hey ,

I have been saving the coins for the past 3 years since I landed. I have one of those Ketchup gallons full of "silver" and 2 gallons of Single Peso coins.

Am I causing a shortage ?

That is one of the reasons. lot of people is doing the same. They are saving coin. becouse it cost more to make the coin thant what the coin is worth.

JJ.
 

mike l

Silver
Sep 4, 2007
3,157
466
0
No problem with what you're doing. Only it does cut the profit margin. The other day, my cashier had to turn down a sale of a bottle of water (10 pesos) because the customer wanted to pay with 500. That's the smallest he had. Another wouldn't accept the "toilet paper quality" 20 pesos notes that I can sometimes get. As for plastic, not everyone has it or want's the hassle of processing it. I guess it's time to get the US$ going. Notice to all US and Canadian tourists, bring your small bills and coins in. We'll take them.


Big problem with that theory is that the exchanage rate which is currently $34RD per $U.S. will go to the ....who ever's
 

SKY

Gold
Apr 11, 2004
13,470
3,604
113
The casino in Playa Chiquita now uses their own 5rd coins instead of the real 5 peso coins. Of course the player can cash them in for paper money when they are finished playing.
 

windfinder

New member
May 28, 2007
78
0
0
Banks are offering for 1500 Pesos in coins ,1600 Rd in paper money back.

Guess to many people are saving to get the extra 100 Pesos!!!!
 

Eddy

Silver
Jan 1, 2002
3,668
219
0
Big problem with that theory is that the exchanage rate which is currently $34RD per $U.S. will go to the ....who ever's

Can't see a problem. People still come here with US$ or whatever and get the current exchange rate. The buyer will get the current rate when he uses his $$ to buy something. He will get his change in US$. The pesos would just become a "word". Which is more or less what it is now. LOL.
 
Feb 7, 2007
8,005
625
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Can't see a problem. People still come here with US$ or whatever and get the current exchange rate. The buyer will get the current rate when he uses his $$ to buy something. He will get his change in US$. The pesos would just become a "word". Which is more or less what it is now. LOL.

Dollarization is just impossible without fixing the exchange rate (pegging). The consequences of pegging exchange rates vs free fluctuation are very bad if a pegged country cannot keep pace with the "master currency economy" (in this case - U.S.). Examples - Brazil, Argentina, Ecuador are just some of them.

You don't need an MBA for understanding this. Just Macroeconomics 201 LOL :)
 

donquixote

New member
Aug 2, 2005
158
6
0
coin shortage

i think we should all just start bringing usa $1. bills and use them as 34 or 35 peso...will that be accepted?