Exchanging currency: when, where, how?

[David B.]

Okay, we will arrive in Santiago this Saturday at a God-awful hour (4:30 A.M.). My question is about exchanging my US dollars for pesos:

Where should I do it?
When?
How much should I exchange (all, or keep some US dollars on me?)?
What should I consider a good exchange rate?

[Ken]

Where are you headed? Sosua? Puerto Plata?

Usually best not to exchange at hotel because their rates generally lower than going rate. There are exchange banks in all the towns where you can change money. We call them Banco de Cambio. There are also lots of people on street changing money, but if new with no knowledge of the person it is safer to go to exchange bank. I never change money in street.

In the Living section there is a long-running thread that reports the current rate of exchange. Rates have been pretty stable lately so what is there today will probably be about same when you get here.

I wouldn't change all my money unless certain I was going to spend it all. You don't want to go home with unspent pesos.

[David B.]

Ken, thanks for your reply.

After a night in Santiago, we are heading into the interior (Jarabacoa), then on to Samana and Las Galeras.

I assume Santiago will have Banco de Cambio...but will they be open for business on Saturday or Sunday?

[Ricardo900]

Originally Posted by David B.

Okay, we will arrive in Santiago this Saturday at a God-awful hour (4:30 A.M.). My question is about exchanging my US dollars for pesos:

Where should I do it?
When?
How much should I exchange (all, or keep some US dollars on me?)?
What should I consider a good exchange rate?

There's a 24 hour supermacado in Santiago that exchanges cash, I think its on Estrella Sadhala. Also, in the morning your hotel should be able to exchange your cash for you. If you must use the ATM's, I prefer using the ones that don't suck in your card, because if something goes wrong with the transaction, you're screwed till the bank opens. Check DR1 for exchange rates, I believe they have an ongoing thread. Don't change all of your cash or you could be stuck with it at the end of your vacation. You be the judge on your daily budget.