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The Peso is the National currency of the Dominican Republic. It comes in denominations of 20, 50, 100, 200, 500, 1000 and 2000 Peso notes. In and around the tourist zones and resorts the American Dollar is fairly well accepted even though the rate of exchange may not be ideal. Tourist Taxis, hotel stores and Excursions often publish their rates in U.S. Dollars and gladly accept them. Other currencies are not readily accepted or changeable at the resorts, and even if and when possible, the exchange rate will normally be very poor. Many currencies are exchangeable at banks in those airports which have banks (during banking hours). To change money from your currency to Pesos the best rates are offered at Banks or Money Stores (Casa de Cambio) such as Western Union and Caribe Express. Many travellers get Pesos from ATM machines all of which only dispense Pesos. Do know that your bank may have a surcharge or fee and that all the local banks now charge a transaction fee of 120 RD and up. People do get a better deal with goods when they use Dominican Pesos with the local vendors and in the markets shopping for souvenirs and food. Away from the resort areas, the U.S. Dollar is NOT widely accepted, and if it is a poor rate of exchange is to be expected. Tolls and Gas Stations around the country generally require Pesos only, although a few stations can now be found which take foreign Visa/Mastercards. Always ask first, never assume because acceptance is not the norm.
Also, be aware that most ATM machines have a 10,000 Peso per transaction withdrawl limit up to your own Bank's daily limit. So if you need more than 10,000 Pesos at one time you will need to make multiple transactions.
Be sure to check the currency exchange rates for the time you are in the country so you know exactly how much you are paying for goods and services. A good place to check daily exchange rates is on any currency exchange page on the internet. ATM's in the Dominican Republic only dispense Pesos. You can not get USA currency or your own countries currency from a bank machine in Dominican Republic. Buying U.S. Dollars or another currency back from banks can be done but at a low rate of exchange.
Lastly, be sure to tell your home bank where you are going so that they do not put a security hold on your cards when you use them in a foreign country. And a good rule of thumb is to always to use an ATM connected to a bank or at a resort so that assistance is available.