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DOP Exchange Rate

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Boston...
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1,091 posts
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DOP Exchange Rate

Not sure if anyone else follows this, but the USD-DOP exchange rate is getting better (for foreigners) worse (for Dominicans).

The exchange has gone up one peso since November. (42.30 - 1.00) now (43.30 - 1.00)

From my first trip in July 2010 its gone from 36 - 1.

(un)Interesting financial nonsense.

Silver Spring...
Destination Expert
for Dominican Republic
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1. Re: DOP Exchange Rate

Some of us watch it daily. It's very bad for the locals. Gas, rice, many staple items, anything imported all going up in price.

Boston...
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2. Re: DOP Exchange Rate

I asked the pool cocktail waitress what 500 pesos would get her. She laughed and said nothing!

Punta Cana...
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3. Re: DOP Exchange Rate

a rising exchange rate is not "going better" for anyone.

of course the big pun goes to local employees who earn their same salaries in dominican pesos while the prices for every kind of product rise according to the rising exchange rate(devaluation of the Peso).

but also for foreigners such is in no way good, they get more pesos for the dollar on exchange but they also pay more pesos for every product, so nothing gained.

the exchange rate was up on 43.30 pesos per Dollar, but started to get slowly a bit back down, today it been traded in bavaro on 43.05 pesos per dollar.

yes, 500 pesos/US$ 11.5.- does not really buy anything, it is what a worker who lives in Higuey spends more or less on daily bases to come to work. motoconcho in the morning from home to the bus station, Bus from Higuey to Bavaro, depending where in Bavaro he/she works a short Motoconcho ride from the drop off point to the working location, in the afternoon the same procedure backwards to come back home.

Mike

4. Re: DOP Exchange Rate

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Removed on: 1:16 am, March 05, 2015