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Has anyone been to the D.R. recently that can provide with the exchange rate for US and Canadian dollars? We are going for a month on January 15th and were wondering if we need to change all our money to US or just a bit. We do know that it is easier with US as everyone take it. Thanks for any info.
CURRENT BUY OF U.S. DOLLARS TODAY WAS $15.80 AT A CASA CAMBIO. I don't know the buy for Canadian dollars but do know it is easier to sell U.S. dollars and would suggest bringing them in Traveler's Checks and cash as needed. The rate always goes up after XMAS after the influx of U.S. dollars from families sending to Dominican residents. Canada has an Embassy in Santo Domingo and you can make a direct inquiry there if you want.
I have been to the DR 10 times in the last 5 years. The rate of exchange has gotten better every year. Right now you get almost a 10 to 1 ratio of exchange for CDN. This makes it really easy when shopping. They also take VISA and you can use a banking card at ATM machines. For every CDN dollar you get 10 pesos.
Do not change your CDN to US and then to PESOS. It will totally confuse you and you won't have a clue how much you are spending. Make sure that you have some US funds for leaving the country. This is usually $10 US. CDN traveller's cheques can be cashed every where. You have to use pesos when shopping in the DR.
Another tip would be to have a few $1 US bills for tipping bell boys. Our Loonies and Twoonies are not cashable in the DR. Only paper bills can be exchanged at banks by the locals.
OK, educate me. What are Loonies & Twoonies? Cartoons or money (coins). And just to keep the record straight, you are not exchanging money; you are buying and selling currency. I was corrected on this by my banking guru. HAPPY NEW YEAR!
I guess it sounds funny! We canadians went from a paper dollar bill to a coin. It has a loon on one side (Bird),so we nicknamed the coin "Loonie" Then our $2.00 bill was replaced by a coin and of course it just seemed right to call it a twonie.
I got the best exchange rate at the ATM machines.I paid $94.25 Canadian for $1000.00 pesos. That was early Dec.99 in Sosua
THANX ANNA FOR THE INFO ABOUT LOONIES. I thought maybe you were referring to Americans Also, how much does your card "ding" you for a cash advance. My American Visa card dings me $3.00 for every cash advance. My last ATM transaction was 1000 pesos for $62.50 (Dollars) HAPPY NEW YEAR. Just curious, how much Canadian to buy $1.00 dollar?
I didn't use a credit card but my interact card. Itis supposed to charge me $1.00 for not using my own bank, but I'll know more when I get my statement. Not sure what you are asking.If you mean buying one US dollar, last time I checked it was 1.49 . I took Canadian traveler's cheques and I don't think I'll do that any more. It cost me money to buy them and I only got 10 pesos per Canadian dollar and then found a better place at 10.22. But the ATM machine was best. I only took money out as I needed it since I was traveling alone. Have fun Anna
It is best to change to US$ and then to pesos as needed, but don't worry about it if you don't. You won't be confused as to how much you are spending because no matter how you arrive at pesos, you are still spending pesos. US$ or more readily accepted, especially if you go outside the tourist areas.
Coins cannot readily be bought or sold using foreign currency.
save yourself some money and change your Canadian money as you need to or get pesos at an ATM. if you buy U.S. you'll be paying twice. You'll get somewhere around 10 pesos per loonie. just make sure youdon't use coins, U.S. or Canadian, they are of no use to any Dominican. it's a good practice to buy some pesos before you leave Canada, they will be handy for taxis etc. If you're going through Miami you can buy them at Miami airport. I found the rate to be better there, than in Canada.
US $ or Canadian $
Also, how much does your card "ding" you for a cash advance. My American Visa card dings me $3.00 for every cash advance. My last ATM transaction was 1000 pesos for $62.50 (Dollars) HAPPY NEW YEAR. Just curious, how much Canadian to buy $1.00 dollar?
