Exchange rate from Canadian Dollars to Pesos?

princess23

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Jan 29, 2009
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Hi there,

Can anyone who is currently living in the DR find out what Scoitabank's exchange rate from Canadian Dollars to Pesos is? Is it higher or lower than 27?

Thanks! :squareeye
 

sangria

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May 16, 2006
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i tried to exchange money at the teller and she tried negotiating a price between 23 and 25 pesos.

withdrawing money from the atm is getting about 26.6 to 27 depending on the day.
 

princess23

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Jan 29, 2009
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i didn't know tellers even exchanged canadian dollars! they always told me to go straigh to the machine... i'm going to be going to Santo Domingo on the 4th of April and i need a good 40,000 Pesos at least so I'm trying to figure out how much Canadian Dollars i should leave on my scotiacard!!
 

sangria

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May 16, 2006
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i just checked my online banking and i withdrew some money on tuesday at 27 pesos even.

it changes everyday so best to assume you will get 26 and maybe you will be lucky.

i have usually found withdrawing from the atm gets the best rate although depending on your bank you may have pay a fee to make an international withdrawal.

there is also a 10,000 withdrawl limit per transaction so be prepared to pay the $5.00 fee 4 times if you have to take out 40,000.

you will have to do the math but it may be better to change your money into US before you come and then convert to pesos or just to bring the CAD $ and go to western union or a exchange house to get the best conversion.
 
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princess23

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Jan 29, 2009
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Hmm.. Since I have a canadian scotiabank card I don't believe there is a 5$ fee, i have never seen it before when I've withdrawn money from the ATM in Santo Domingo... so i think i'm safe there... And the exchange rate from CAD to USD is so horrible right now, it balances out to pretty much the same thing in the end... the economy is just terrible right now... in the summer the US and Canadian dollar were pretty much the same... ugh! i should have bought more USD when i had the chance lol...

Thanks for your help! I hope the rate stays at 27 at least :p
 

princess23

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Jan 29, 2009
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I wish i could just finally move to DR.. my boyfriend is living there right now with his family and i'm traveling every couple of months to see him.. I wish there was some way i could just find a job in DR and stop having to travel all the time to see him! lol... it would make life alot easier!!!
 

Mahogany

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Sep 3, 2005
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Double check with your bank

I have a Cdn Scotiabank card and never used to see the fee, but I just got back from the DR 2 weeks ago, and this time, I did pay ATM withdrawl fees ($5/ withdrawl).

If you need $40,000 pesos, instead of converting to US and then to pesos thereby paying two exchange fees, consider just getting $40,000 pesos from your Scotiabank and carrying it down with you. Let them know the day ahead, they can order it in for you. I have not had any problems doing it that way.
 
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princess23

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Jan 29, 2009
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I went to scotiabank the other day and asked if that was possible and the teller told me they don't order domincan pesos... :S ...
 

princess23

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Jan 29, 2009
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and did u use a scotiabank ATM or another bank's ATM ? Because I always withdraw from a Scotia ATM and apparently as long as the ATM you withdraw from has a scotiabank symbol on it, you shouldn't be charged a withdrawl fee.
 

princess23

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Jan 29, 2009
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AND... for example.. lets say the rate from CAD to DOP is 27 ...
40,000 DOP = 1481.48 CAD

Provided that the USD - DOP rate is 35,

40,000 DOP = 1142.86 USD

Today, 1$ US = 1.23 CAD

1482 CAD = 1,202.03 USD + whatever fees are charged from the bank...

1200 USD @ 35 = 42000 DOP
1482 CAD @ 27 = 40000 CAD

Not much of a difference... but 2000 pesos can go a long way! lol
 

sangria

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May 16, 2006
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yes it pretty much the same and worth it to do the math to be sure.

also if the bank did order pesos for you they wouldnt exchange it at 27.

TD is selling them for 23 or 24 pesos per $1 CAD.

i wish our dollar was more even with the US $ too! if it was i would be having a lot more fun!!!;););)
 

princess23

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Jan 29, 2009
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wow 23 - 24... our economy is suffering alot more than we would like to admit! :S ... sangria are you from canada living in DR? you seem to know alot about this! hehe anyway thanks for your help i really appreciate it!
 

sangria

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May 16, 2006
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no problem and yes i am.

i always do the calculations before i come to see what makes the most sense depending on the the exchange rates. there is also a link on here that shows the daily rate. you can see each day what the rates are.
 

Mahogany

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Sep 3, 2005
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Response

and did u use a scotiabank ATM or another bank's ATM ? Because I always withdraw from a Scotia ATM and apparently as long as the ATM you withdraw from has a scotiabank symbol on it, you shouldn't be charged a withdrawl fee.

Yes, it was two different Scotiabanks, and I did get charged this time (for the first time). If your Scotiabank doesn't bring in pesos... a place like Calforex usually has them in stock... but the math might not work