Exchanging USD to Peso

Stanza Mare · #1 11-26-2007, 02:53 PM

I was wondering if anyone has info on exchanging USD to Peso in the Bavaro area.
-What are the local banks currently giving on exchange for 1 USD?
-Is this the best route for exchange or should I exchange $$ in the US before coming down?

I am new to all this so please be patient.

Thank You

Tallman1818 · #2 11-26-2007, 02:59 PM

The oficial rate is 33.35 in the bank, I will advise you to bring your money in dollars and them exchange here, do not exchange your money at the airport they will give you about 2 to 3 pesos less for your dollar.

Stanza Mare · #3 11-26-2007, 03:25 PM

Thank You!

misslyndajean · #4 11-26-2007, 11:50 PM

i don't even think you will need pesos....most places accept USD

rubio_higuey · #5 11-27-2007, 12:21 AM

Caribe Express at Plaza Bavaro, and Vimenca at Friusa, will give you better exchange rates than banks, and better than most of exchange houses as well (especially Caribe Express). You can also go to Banco Caribe at Friusa (in one of those Plazas, just across from Progreso) - they are same as Caribe Express.

Do not change in hotels, as they offer exchnage rates 2-5 pesos less than official rate. Euros rate is even worse in the hotels.

rubio_higuey · #6 11-27-2007, 12:24 AM

Quote:

Originally Posted by misslyndajean

i don't even think you will need pesos....most places accept USD

That's true... unless the prices are quoted in pesos. In that case, the stores will accept dollars at 2-3 pesos less rate, usually at 30 to 1 instead 33+ to 1.

The Virginian · #7 11-27-2007, 08:54 AM

RUSA gives the best rate.

SamanaJon · #8 11-27-2007, 10:09 AM

Please see the DR1 thread regarding Excahnge Rates. Do not ever change Dollars/Euros on the street corner with an individual who is offering a rate "too good to be true". They are scam artist and will screw you. The best rates vary slightly, example one change house give you 33.45 the other 33.40. Only if you are changing large amounts (>$1000), will it affect you. Lots of luck.

Beads · #9 11-27-2007, 11:09 AM

Quote:

Originally Posted by misslyndajean

i don't even think you will need pesos....most places accept USD

If you pay in USD you will be overcharged. Watch out for anyone quoting prices in USD.

Tamborista · #10 11-27-2007, 11:14 AM

Quote:

Originally Posted by Beads

If you pay in USD you will be overcharged. Watch out for anyone quoting prices in USD.

Most reputable tour agencies quote and transact in USD. Ask Planner for verification. If you are buying a Velvet Elvis painting or Haitian mask, then RD Pesos are the preferred currency. You will only be overcharged if you are a poor negotiator or an abusive short gringo.

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