The Dominican Republic is the wealthier portion of Hispaniola. It shares the island with impoverished Haiti. Still there are signs of poverty everywhere. The main products of the Dominican Republic are sugar, coffee, tobacco, cocoa and tourism. Its currency is the peso with 100 centavos equaling 1 peso. The symbolism under which it appears on international markets if DOP.
History
Christopher Columbus was the first explorer to lay eyes on the Dominican Republic with his “discovery” of Hispaniola. Santa Domingo became the first settlement for the Spaniards in the New World. France later took over Haiti, but some parts remained Spanish. As a result, the first coinage of the country was Spanish.
In 1542, the first mint turned
out Spanish silver and copper coins. However, local currency did not
appear until the early 19th century. Under the rule of Haiti
(1821-1844) centimes and sol were common tender. This vanished with the
triumph of the Nationalists in 1844 under Juan Pablo Duarte.
The
first coins were brass reales. In 1877, decimal coinage made a furtive
appearance with French-influenced coins minted in Paris arriving in
1891. This money was in centisimos and francs. By 1897, however, the
coins came in pesos and centavos.
In 1937, the coin of comparison was no longer the French Franc but the American dollar. The peso and dollar became on par. That year, there were 1, 5, 10 and 25- centavo coins as well as ½ pesos. In 1947, the country had its first peso oro notes. Today, the currency consists of coins of 1 and 5 pesos and banknotes of 10, 20, 50, 100, 200, 500, 1000 and 2000 pesos.
Obtaining Dominican Republic Pesos
You can exchange Dominican Republic Pesos at several places. These include commercial banks and exchange offices or boots. These are the casas de cambio. You can also make these transactions in hotels in resort areas. ATMs or ABMs are another source of local currency. Check with your own bank for rates of exchange. Many banks, stores, shopping centers and other businesses have ATMs on site. You can also locate them at airports, casinos and some hotels.
Protecting Your Currency
Crime is on the increase in this country. You need to take the usual precautions. Do not flash your cash or show signs of affluence. Do not leave your personal belongings alone o the beaches. Petty crimes such as pickpocketing and purse snatching are more prevalent in the cities
Using Your Dominican Republic Peso
You can use both American dollars and the local currency in the Dominican Republic. Spend your pesos on guided adventure tours or for a day at a resort beach. Buy local items as souvenirs and gifts. Go shopping in the Colonial Zone of the La Atarazona and buy yourself some fine cigars.
Travel Tips and Warnings
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Check for hurricanes or tropical storms. They pack a mean punch if they hit the island.
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Malaria is often a concern. Take your pills and make the right arrangements to prevent an occurrence.
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The water can have strong undercurrents. This is particularly true around Macao.
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Be careful in your choice of taxi, equipment supplier and tour guide services. Be sure they are credible.
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Visit the powder soft sandy beaches of this country. These include those of Punta Cana.
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Go watch the sea turtles at the National Park of Isla Saona or to the Ocean World Adventure Park.
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There is also the recreated 16th century village at La Romana and the 16th century castle in Santa Domingo with its coral limestone walls.
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Try boating, golfing, diving, polo and tennis.
Overview
The
Dominican Republic is a country with a strong tourist infrastructure.
It has powdery white beaches, adventure tours and scenic beauty. The
only worries concern the weather.
For travel information see www.godominicanrepublic.com.
Currency Summary
Current currency: peso
100 centavos equals 1 peso
Coins: 1 and 5 pesos
Banknotes: 10, 20, 50, 100, 500, 1000 and 2000 pesos