What Is the Best Currency For Dominican Republic

Dominican Republic is a popular tourism destination in the Caribbean that is known for its spectacular beaches, diverse cuisine and breathtaking landscape.

If you love Spanish architecture and Meringue music, then you will definitely enjoy your time on the island. Dominican Republic also shares its landmass with Haiti.

If you are preparing for an upcoming trip to the island, you may be wondering which currency is best for your vacation.

The best currency to use in Dominican Republic is the Dominican Peso. The US Dollar is accepted everywhere on the island. For ease of doing business, it is best to carry small denomination of the US Dollar. Change is usually given in Peso. Tipping is also customary to servers and taxi drivers.

What Is The Official Currency of Dominican Republic

The official currency of the Dominican Republic is the Dominican Peso. Its symbol is $ with RD$ being used to prevent confusion with other currencies.

The Dominican Peso is issued and managed by the Central Bank of Dominican Republic and is available in bank notes and coins.

Bank notes are available in 50, 100, 200, 500, 1000 and 2000 bills. Alternatively, coins are available in 1, 5, 10 and 25 peso.

Do I need cash in Dominican Republic?

Cash is best for ease of doing business on the island. Credit cards are more readily accepted by larger businesses such as hotels and tour companies.

However, if you are planning on support local businesses and vendors, credit card machines may not be available.

Can you use US dollars in Dominican Republic?

US dollars are accepted everywhere. However, expect to receive change in the local Dominican Pesos.

For ease of doing business, it is best to have US dollar notes in smaller denominations.

At times, it may be better to change your US dollars into Pesos before purchasing at smaller businesses as the exchange at these businesses may be less favorable.

Can you use Canadian dollars in Dominican Republic?

Alternatively, Canadian dollars are not accepted on the island as the rate changes daily.

Commercial banks are usually issued daily exchange rates from the Central Bank of Dominican Republic.

If you attempt to use Canadian dollars at local businesses, you will be referred to a commercial bank to have the notes converted.

Can you use British Pound Sterling dollars in Dominican Republic?

Businesses on the island will be hesitant to accept the Pound Sterling and will refer you to a commercial bank to get your currency converted.

You can also consider converting your notes in the UK and travelling with US dollars. You can do this either online or at your Tesco Money Booth.

Can you use Euro dollars in Dominican Republic?

Along the same lines as the British Pound Sterling, businesses on the island are generally reluctant to accept Euro dollars and will refer you to a commercial bank to have your notes converted.

This is due to the fact that the exchange rate fluctuates and changes daily and is issued by the Central Bank of Dominican Republic to the local commercial banks to transact business for that day.

Can you use a debit card in Dominican Republic?

Foreign debit cards can be used in the Dominican Republic as long as cirrus is enabled. Most Visa and MasterCard tend to work on the island.

Kindly note that there is usually a fee that is charged by your bank for each transaction.

General Tips To Remember In Dominican Republic

Many small businesses on the island do not have credit card machines. If you plan on supporting small businesses during your stay, then have cash available.

Tipping is customary on the island. Therefore, ensure and have at least 30 USD$1 bills for ease.  The locals also love USD$2 bills as they consider them lucky.

Bring smaller notes of the US dollars for ease of getting change from vendors.

Carry at least two pieces of identification especially if you need to change money at the banks. At times, an additional piece of id may be required.

Purchasing souvenirs (hats, jewelery and trinkets) from beach vendors tends to be overpriced. Generally, items on sale at the beach are much more expensive than at the supermarkets.

If you have sensitive skin, don’t forget to carry insect repellent and creams for insect bites as they are much more expensive on the island. If you are going to be beach, bring sunscreen and lip protection as well.

You can purchase Dominican pesos on the airport. However, the exchange rate tends to be less favorable.

Some hotels may provide some currency conversion at their front desk area. Kindly note that the rate may not be as favorable as a commercial bank.

Final Thoughts

As a general rule, the best currency to use in the Dominican Republic is the Dominican Peso. US Dollars are accepted by businesses on the island. For ease of use, travel with US Dollars of smaller denominations especially for tipping. Credit Cards and Debit Cards are easy to use at large businesses.

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