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$US to Peso
In Sosua today the best price at change banks on main street for dollar are 20, and for Euro are 19.50. Canadian is about 12.30.
I go to the Western Union office in the Bommarito building and do better. Last week when best rate on main street was 20 I got 20.15 (this was after they had reestablished the agreement to hold at 20.15 until this week Tuesday or Wednesday.)
I go to the Western Union office in the Bommarito building and do better. Last week when best rate on main street was 20 I got 20.15 (this was after they had reestablished the agreement to hold at 20.15 until this week Tuesday or Wednesday.)
current rates for exchange
I am leaving for the DR Wednesday. What is the current exchange rate for US dollars into DR pesos around Santo Domingo/Boca Chica area at banks or exchange booths? When I check websites they list interbank rates at about 18.5 pesos to dollar but I know that is not an accurate description. Also, on what day does the gentleman's agreement between the banks and the government lift on the US dollar price hold? Thanks all.
dale7
I am leaving for the DR Wednesday. What is the current exchange rate for US dollars into DR pesos around Santo Domingo/Boca Chica area at banks or exchange booths? When I check websites they list interbank rates at about 18.5 pesos to dollar but I know that is not an accurate description. Also, on what day does the gentleman's agreement between the banks and the government lift on the US dollar price hold? Thanks all.
dale7
Todays rates
Give or take a few points $20.10 to $20.40 depending on where you are. I would stay away from banks. They pay less. Do not trade in the streets(this is a WARNING!! save your life and savings). Try using Vimenca. Forget about agreements. The market always wins.
TW
Give or take a few points $20.10 to $20.40 depending on where you are. I would stay away from banks. They pay less. Do not trade in the streets(this is a WARNING!! save your life and savings). Try using Vimenca. Forget about agreements. The market always wins.
TW
tht,
I like your XR analysis...I have been wanting to learn more about currency exchange markets and the factors that affect that market. Do you have any intermediate recommended readings that can help me better understand that market? I have a pretty good understanding of how other products work (i.e. stocks/bonds) so I think an intermediate level readings would do.
Thank you
I like your XR analysis...I have been wanting to learn more about currency exchange markets and the factors that affect that market. Do you have any intermediate recommended readings that can help me better understand that market? I have a pretty good understanding of how other products work (i.e. stocks/bonds) so I think an intermediate level readings would do.
Thank you
The exchange banks on main street of Sosua today are giving $20.10. Where I change money is giving more. That means in the Santo Domingo area you should get 20.40 or more at the exhange banks.
As golo said, stay away from commercial banks, which give less, and the guys roaming the streets, all of whom have ways to cheat you.
In response to ArJay, I'd recommend bringing dollars (but there is a risk is having large amounts of cash) or travelers checks. Either will give you a better rate than the ATMs by the time you deduct the bank fees. Also, their rate tends to be around the international rate shown on internet, rather than the actual rate if you are changing money in the DR.
As golo said, stay away from commercial banks, which give less, and the guys roaming the streets, all of whom have ways to cheat you.
In response to ArJay, I'd recommend bringing dollars (but there is a risk is having large amounts of cash) or travelers checks. Either will give you a better rate than the ATMs by the time you deduct the bank fees. Also, their rate tends to be around the international rate shown on internet, rather than the actual rate if you are changing money in the DR.