I recommend using your ATM card from your local bank in the USA (check what their fees are first) to take money out of a bank machine when you come out of customs into the area where everyone will be waiting (this is the case in most airports, SDQ, STI, POP, PJU). You get the best exchange rate and my bank only charges me $1.50 for using machines here. The banks here charge you nothing. The exchange rate today is 35.6 pesos per dollar. That is at the western union in Samana. At the airport by customs they exchange dollars at about 32 pesos per dollar. The bank machine will generally give you about .1 peso better than everyone else. So right now it would be 35.7 pesos at a bank machine. This is on 4-2-2009. All machines in the country have an English option at start up.
The best thing about this is that you don't have to run around with a couple thousand dollars on you (if you are visiting for an extended period of time). I would just recommend taking out 18,000 pesos (roughly $500 US) each time to optimize your ATM fee. BanReservas bank machines allow you to take out this amount in one transaction. I think Scotiabank machines also allow you the full amount. Banco Popular machines often times only allow you to take out 10,000 pesos on any transaction.
If your ATM card is also a debit card your local bank will often make purchasing things cheaper than a regular credit card because they don't charge a percentage for the exchange.
The best thing about this is that you don't have to run around with a couple thousand dollars on you (if you are visiting for an extended period of time). I would just recommend taking out 18,000 pesos (roughly $500 US) each time to optimize your ATM fee. BanReservas bank machines allow you to take out this amount in one transaction. I think Scotiabank machines also allow you the full amount. Banco Popular machines often times only allow you to take out 10,000 pesos on any transaction.
If your ATM card is also a debit card your local bank will often make purchasing things cheaper than a regular credit card because they don't charge a percentage for the exchange.