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    Currency in Dominican Republic

    A practical currency and money guide to travel, living and doing business in Dominican Republic and the Dominican peso (DOP).


    What currency is used in Dominican Republic?

    The official currency of Dominican Republic (country code: DO) is the Dominican peso, with symbol RD$ and currency code DOP.

    Travel Ideas and Money Tips for Dominican Republic

    The Dominican Republic is a country located on the island of Hispaniola in the Caribbean Sea. It shares the island with Haiti. The country has a population of around 10.4 million people and its capital and largest city is Santo Domingo. The official language is Spanish and the country has a presidential representative democratic republic form of government.

    The Dominican Republic is a popular tourist destination known for its beautiful beaches, clear blue waters, and warm tropical climate. Some popular tourist destinations include:

    1. Punta Cana: A resort area known for its white sand beaches, crystal clear waters and many All-Inclusive resorts.

    2. La Romana: it's a city located on the southern coast of the island, known for its beautiful beaches, and Casa de Campo, a luxury resort.

    3. Santo Domingo: The capital and largest city, known for its historic and cultural sights, including the Alcazar de Colón, which is the oldest vice-regal residence in America and the Cathedral Santa Maria la Menor, the first cathedral of the New World.

    4. Jarabacoa: A mountain town known for its scenic beauty, hiking and adventure activities like river rafting and paragliding.

    5. Samaná: A peninsula located in the northeast of the island, known for its beautiful beaches, whale watching and Los Haitises National Park, a protected area of mangroves and caves.

    6. Jaragua National Park: This National Park is located in the south-west of the country, it is the second largest protected area of the Caribbean, it's home to a diverse range of wildlife and plant species, including the endangered Hawksbill turtle.

    7. Playa Rincon: it's considered as one of the most beautiful beaches in the country, located in the Samana Peninsula, with clear waters, white sand and a long beach area.

    8. Cigar factories, like Tabacalera de Garcia and Tabacalera La Aurora, both located in Santiago, are worth a visit for anyone interested in cigar production, where you can learn about the process and enjoy a cigar tasting.

    The country is known to have a high level of crime, specially in some urban areas and tourists should be aware of their surroundings. It's advisable to be extra cautious when it comes to personal security, and avoid carrying valuables and showing off wealth. Always be informed about the local situation and respect the local laws.



    Expat Money & Business Guide to Dominican Republic

    Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.

    By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Dominican Republic.

    Dominican Republic economy

    The Dominican Republic has a mixed economy that has been growing rapidly in recent years. Its main industries are tourism, free trade zones, and construction. In 2020 the GDP was around $89.7 billion and the GDP per capita was around $8,700.

    Tourism is a major contributor to the economy, with millions of visitors coming to the country each year to enjoy its beautiful beaches, warm tropical climate, and rich culture. The tourism sector is a significant employer and generates significant income for the country.

    The free trade zones industry is also a significant contributor to the economy, with over 200 companies operating in the country providing jobs to thousands of people and generating export revenues. These zones offer tax exemptions and other benefits to companies that invest and operate in them, making the Dominican Republic an attractive destination for foreign investment.

    Construction is also a significant sector, driven by the growth of tourism, the increase of foreign direct investment, and the country's development of housing projects, infrastructure and public works.

    Agriculture, services and manufacturing are also important components of the economy, with the country being an important exporter of tropical fruits and vegetables, notably, bananas, and also of tobacco, rum and cigars.

    The Dominican Republic has been facing some economic challenges in recent years, including high inflation, a large current account deficit, and a high level of debt. Additionally, the country has a relatively high level of poverty and income inequality, which remains a significant challenge for the government to address. The Covid-19 pandemic has affected the Dominican economy negatively, but the government has put measures in place in order to recover from this crisis.

    Managing your finances in Dominican Republic

    Here we list some key points for expats and businesses to consider when managing financial dealings in Dominican Republic:

    1. Understand Dominican peso currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the DOP exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.

    2. Use a local Dominican peso bank account: A local DOP bank account can make it easier for you to manage your finances and pay bills while you are in Dominican Republic. It may also be more convenient to use a local DOP bank account to make purchases and withdraw cash.

    3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Dominican Republic. This can help you avoid legal issues and ensure that you are complying with local requirements.

    4. Consider the tax implications: It is important to understand the tax implications of living or doing business in Dominican Republic. This can help you plan your finances and ensure that you are paying the correct amount of tax.

    5. Seek financial advice: If you are unsure of how to manage your finances in Dominican Republic, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.


    USD/DOP – Market Data

    The exchange rate of Dominican peso (DOP), or the amount of DOP that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest USD/DOP rate plus recent trend, chart, and historic rates.

    1 USD = 54.55 DOP
    Sell USD  →  Buy DOP
    USD to DOP at 54.55 is just below its 3-month average, having traded in a very stable 3.2% range from 54.04 to 55.75
    USDDOP :

    12 May 2023
    0.2% 2 Week
    25 Feb 2023
    2.2% 3 Month
    26 May 2022
    1.2% 1 Year
    27 May 2018
    10.3% 5 Year
    28 May 2013
    32.6% 10 Year
    31 May 2003
    121.5% 20 Year
    USD/DOP historic rates & change to 26-May-2023



    Compare Dominican peso Exchange Rates & Fees

    The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Dominican Republic or planning a trip or maybe living there, so will need to exchange and spend Dominican peso.

    Loading comparison rates...


    It is important to note that the exchange rate of the Dominican peso can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect DOP exchange rates before making any financial decisions.





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