Exchange Rate - Cambios not "Official"

ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
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I am off to Boca Chica on the 28th for 9 days - I note for umpy-ump days now the rate on the DR1 home page is 17.56/84 but I recall an article saying it is quite a bit more, over 18.10 now - can someone mention the going rate for buying RD$ with US$ now at the cambios please?
 

PJT

Well-known member
Jan 8, 2002
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Rates

I was able to exchange today at 17.80 per US$1 at Western Union Vimenca. You will find the rates running at about 17.30 thru 17.90 depending where you purchasing.

You will get better rates on the streets, 17.70 to 18.00, the only caution there is the pesos may be old, dirty, and marked handwritten with ink and ink stampings. This marked currency is no longer considered legal tender and is being refused for most transactions. You loose any advantage of the street exchange rate. Yet, you can change the bills at banks for newer clean notes.

Keep in mind if you are shopping around at various locations to optain a good rate it may be better to exchange at a lower rate nearer your R.D. base of operations, you will still save, rather than spend the time and money in your travels to lets say a remote place in order to just gain a good exchange rate. Regards, PJT
 

Hillbilly

Moderator
Jan 1, 2002
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Currency exchange--beg to differ with PJT

First off, always exchange your dollars (US or Canadian) at an exchange bank. Vimenca is fine. -Never, ever, exchange your money on the street. Not for the reasons cited by PJT, which were wrong, by the way-marked currency is still legal tender until the end of january of 2003....
But because you will be cheated! The hand is faster than the eye and you will be cheated 9 times out of 10...they say you get 18.25. You change 100 dollars, You leave and later count your money (you saw them count it on the street, remember. You only have 1,775 pesos!! Happens a lot..

Just go to a nice exchange place where they will give you a receipt that tells you at what rate they have exchanged your money..

use your head.


HB
Now, would you exchange money with him??
 
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ricktoronto

Grande Pollo en Boca Chica
Jan 9, 2002
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I Only Use Cambios in Boca Chica

One, becuase they have no line ups like Banco Popular and two, they seem to always have OK rates, and three once I go in there I don't have to do the passport thing for Amex Cheques snce they remember me.

I was just trying to budget, though I will admit in advance so nobody has to say this, that 18 vs. 17.5 won't be that much difference.

The best thing so far is the US/CDN$ rate is moving in my favour while the US/RD$ rate is the same or better, so in CDN$ terms I am making out quite well.
 

Ken

Well-known member
Jan 1, 2002
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Another reason for not changing on the street is the likelihood that you will get some counterfeit currency. There is a lot of it floating around in the DR, primarily in bills of RD$100 or more. You will see when you go to large supermarkets and many other stores that before the clerk accepts your money she will hold it under an ultraviolet light that indicates whether the bill is good or false. Or sometimes the clerk will mark the bill with a special pen for the same reason.

The good and bad bills will all look the same to you, at least until you are much more familiar with the currency and know some of the things to look for. Any bad bills you accept on the street in good faith will be nothing but souvenirs.

PJT, Hillbilly is right. The government extended the cutoff date for bank acceptance of the marked and otherwise damaged bills.
 

Escott

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Jan 14, 2002
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Crisco... Depends if you get paid in dollars or Pesos!

Hillbilly... If they are dumber than a box of rocks they will probably drop the money walking or fall out of their pocket while swimming in the Ocean. Otherwise most people can count so changing dollars in the street is ok.

Ken... Where do you change dollars in Sosua? I use the woman at 1 Ocean Pl. because she gives the best rate in town.

I have exchanged about 20k so far this year in the DR without a problem. I have used kiosks, change houses and even bars and casinos. Just use your head and just as sharp about it as in your home country and you will be ok.

Escott
 

Ken

Well-known member
Jan 1, 2002
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jazzcom,

Never thought about 1 Ocean Place. I'm going to talk with her.

Thanks, Ken
 

Jane J.

ditz
Jan 3, 2002
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Eduardo Vasquez controls all money-changing operations in Sosua - and gives the best rate, especially on "volume" amounts. He'll also cash your cheques from accounts at home, which is nice, cuz it takes 3 weeks to clear!
 

Escott

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Jan 14, 2002
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Jane J. said:
Eduardo Vasquez controls all money-changing operations in Sosua - and gives the best rate, especially on "volume" amounts. He'll also cash your cheques from accounts at home, which is nice, cuz it takes 3 weeks to clear!
I have no problem cashing or giving checks in the DR. Where might someone find this Eduardo though?

Thanks,
Escott
 

PJT

Well-known member
Jan 8, 2002
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Cambios

Geeze HB, are you trying to take the wind out of my sails? Though I was doing so well. I may have used the wrong semantics regarding legal tender, was experiencing an attack of writer?s block at the time. I do feel good the both of us (all of us) are looking out for the best interest of ricktoronto as we are steering him away from the unfavorable street transactions.

Crissco, where did you get 17.95? On the street?

Regards, PJT
 

Ken

Well-known member
Jan 1, 2002
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Jane J, I'm also very interested in finding Eduardo Vasquez. I'm especially interested in being able to cash checks. Been using ATMs but would much prefer cashing checks. Better rate and no bank charge.
 

Jane J.

ditz
Jan 3, 2002
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Sorry for the delayed response, I just noticed this today.

Eduardo Vasquez is just behind the Supermercado Exquiteces (right beside your fave watering-hole, JC). There is a residential complex there and his is the first door, which is usually open. You can also enquire in the supermarket, as it belongs to him as well.