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What currency?

Warrington, United...
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What currency?

Im staying at the hard rock resort in may. Its my first time to this destination and wondered what the best currency was to take?

Shasta Lake
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1. Re: What currency?

A lot of the tourist oriented places will take US Dollars but paying in pesos usually works out better.

Don't exchange money at the resorts they give you a VERY poor exchange rate. Personally I like to bring enough money to get me started and then find a ATM to withdraw money from. Usually you get the best exchange rates that way, Right now it is about 42 pesos to the US Dollar. Usually you will have to pay some sort of fee (I.e. $1.50) per withdraw so it is best to take out larger chunks of money, just don't take out so much that you will have a lot to exchange on the way home.

MTL
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2. Re: What currency?

USD is widely accepted for everything... If you plan on spending lots of time "off" resort then Peso's will get you better prices.

If you plan on using bank machines in DR the money will be dispensed in Peso's. If you do plan to use bank or credit cards be sure to inform your financial institution that you will be in DR so they don't block the cards after first use in fear of fraud.

Edited: 9:58 am, December 12, 2013
murillo
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3. Re: What currency?

in 10 years have only used US $ ... How much would you save changing to Pesos... ? I never understand why you would on a one week stay ... a month or more maybe ...

MTL
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4. Re: What currency?

@bomberro,

I don't know exactly how much savings in PC when using Peso's as I've always used USD as well in 6 visits. We only spend about 30% of our time off resort at the bars/clubs at night so it was always fine paying in USD.

However when I went to Cabarete we spent 90% of our time off resort, eating lunch, supper at local places, etc. There was definitely lots of savings using Peso's as opposed to USD. For instance a cheeseburger, fries and beer was like 15$ USD but paying in Peso's it was 475 Pesos which is around 11.15$ USD so the saving's added up quickly.

You wouldn't really notice the savings for just doing a bit of shopping off resort and so forth... But if you buying lots of stuff, eating out, etc then the savings start to become more noticeable in my opinion.

Punta Cana...
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5. Re: What currency?

that's right Bomberro, unless you plan to spent a couplñe thousand dollars off resort at restaurants and bars etc, no big savings would be recieved if any. keepin mind that taking pesos from a ATM costs usually a fee to the banks, exchanging cash dollars into pesos is at the hotels not available for good rates, so you would loose on the exchange what you could safe for a slightly better price. and any leftovers are a currency under strong devaluations, so you exchange it back into dollars which costs of course an other exchange fee, or you keep the leftovers for the next vacation next year but til then due devaluation of the Peso the money will buy less than it costed now to exchange.

the average visitor, coming for a week or two, doing 2-4 off resort sweeps with some drinks and food and souvenirs shopping at local off resort places, can simply stick to pay in US$, hassle free, no conversions of rates necessary etc etc.

Mike

Punta Cana...
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6. Re: What currency?

Jim,

why do we always post at the same time???

hahaha

cheers

Mike

Shasta Lake
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7. Re: What currency?

@bomberro As @Bigjim93 mentioned it depends on how much time you spend off resort, what excursion you plan and what you buy from local shops and vendors. If you plan on spending all your time on the resort there is little need for local currency.

I use the resorts at a home base and spend a lot of time wandering around the country. For most of the off resort shops and stores it is usually easier to dicker the price down using the local currency. They will often start in pesos and do a currency exchange in their head. Usually to their benefit.

MTL
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8. Re: What currency?

Lol Mike get out of my head HaHa,

Have a good day!

Warrington, United...
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9. Re: What currency?

Thanks guys think will just take us $ and my bank cards then. Also hiw much will I need to budget for tourist cards, getting out the country etc. For 2 people?

MTL
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10. Re: What currency?

It's 10$ get in and 20$ to get out.

But I recall another Trip Advisor member "Angelina52" who is from the UK and a destination expert for another area of Dominican mention that one of the airlines covers some of the fees and one doesn't.

At link below you can send her a private message and she can confirm if it's either Thomson or the other one. She's very helpful and will get back to you quickly.

www.tripadvisor.ca/members-forums/Angelina52

If you do have to pay the 10$ entry you can buy it in advance at this link. You simply print out the paper.

https://www.dgii.gov.do/Tturistaweb/

Edited: 11:08 am, December 12, 2013