DOMINICAN REPUBLIC MONEY GUIDE
Dominican Republic Currency & Exchange
Understand Dominican Republic currency, exchange rates, ATMs, cash, cards and the best ways to manage your money while visiting or living in the Dominican Republic.
THE BASICS
Dominican Republic Currency at a Glance
Dominican Republic currency is the Dominican peso (DOP), commonly shown locally as RD$. U.S. dollars are widely recognized, but pesos are the normal currency for everyday purchases, restaurants, supermarkets, fuel and local services.
DOMINICAN PESO
DOP / RD$
The Dominican peso is the country’s official currency and the currency you will use most often for everyday spending.
EXCHANGING MONEY
USD & CAD
U.S. and Canadian dollars can be exchanged at banks and currency-exchange offices throughout popular areas such as Sosúa and Cabarete.
USING ATMs
Pesos Only
ATMs in the Dominican Republic dispense Dominican pesos—not U.S. or Canadian dollars. Your bank account can be in another currency; the withdrawal is converted to pesos.
CARDS & CASH
Both Are Useful
Credit and debit cards are widely accepted at larger businesses, but having pesos in cash is useful for smaller purchases, tips and local services.
EXCHANGE RATES
Dominican Republic Exchange Rate: What You Need to Know
The exchange rate between the Dominican peso and foreign currencies changes throughout the day. The U.S. dollar is the most commonly exchanged foreign currency, while Canadian dollars and euros can also be exchanged at many banks and currency exchange offices.
The Rate You Receive May Be Different
The live rate above is the mid-market exchange rate and is a useful reference when comparing currencies. The rate you actually receive at a Dominican bank, currency exchange office, ATM or through your credit card may be different because of exchange margins and fees.
EXCHANGING MONEY
Where to Exchange Money in the Dominican Republic
There are several ways to exchange U.S. dollars, Canadian dollars and euros into Dominican pesos, but the rate you receive can vary considerably. In tourist areas such as Sosúa and Cabarete, established currency exchange offices often offer more competitive cash exchange rates than banks, while rates can also differ noticeably from one bank to another.
CURRENCY EXCHANGE OFFICES
Often the Better Rate
Local currency exchange offices, known as casas de cambio, are often one of the best places to exchange cash into Dominican pesos. In areas such as Sosúa and Cabarete, they can offer better rates than local banks and usually provide quick service.
BANKS
Rates Vary by Bank
Dominican banks also exchange foreign currency, but the rate can vary considerably from one bank to another and may be less competitive than a local exchange office. Banks may require identification and can involve longer wait times.
AIRPORTS & HOTELS
Convenience First
Airport and hotel exchange services can be useful when you first arrive, but convenience may come with a less favorable exchange rate. If possible, compare the rate before exchanging a large amount.
ATMs
Easy Access to Pesos
ATMs are widely available and provide a convenient way to access Dominican pesos using a foreign debit or credit card. However, ATM fees and your own bank’s foreign transaction or conversion charges can affect the final cost.
LOCAL EXPERIENCE
Where I Exchange Money in Sosúa & Cabarete
After living on the North Coast for many years, my preference is to use established local currency exchange offices rather than banks when exchanging cash. They generally offer better exchange rates, and the process is usually quicker and easier.
In Sosúa, I recommend Caribe Express. In Cabarete, I recommend either Wally Exchange or Caribe Express. My personal preference in Cabarete is Wally Exchange because I have generally found the wait time to be shorter.
Exchange rates change throughout the day and can vary between locations, so it is always worth checking the posted rate before exchanging a larger amount.
Bring Your Passport When Exchanging Money
Banks and established currency exchange offices in the Dominican Republic normally require identification when exchanging foreign currency, so it is a good idea to bring your passport.
In tourist areas such as Sosúa and Cabarete, you will also see independent money exchangers operating on the street. They can be convenient, particularly if you do not have your passport with you, and their rates can sometimes be competitive. If using an independent exchanger, confirm the exchange rate and count the pesos you receive before completing the transaction.
ATMs, CASH & CARDS
Using ATMs and Credit Cards in the Dominican Republic
ATMs are widely available throughout the Dominican Republic, particularly in tourist areas such as Sosúa and Cabarete. Credit and debit cards are also accepted at most supermarkets, restaurants, hotels and larger businesses, but carrying some Dominican pesos in cash is still useful for everyday purchases and smaller local businesses.
Using ATMs
ATMs Dispense Dominican Pesos
ATMs in the Dominican Republic dispense Dominican pesos (DOP), not U.S. or Canadian dollars. Your home bank account does not need to be in pesos—the withdrawal is converted automatically when the transaction is processed.
ATM withdrawal limits vary by bank and machine, and both the local ATM operator and your home bank may charge fees. If you need a larger amount of cash, several withdrawals may be necessary.
Paying by Card
Credit & Debit Cards Are Widely Accepted
Visa and Mastercard are commonly accepted at supermarkets, restaurants, hotels, gas stations and larger businesses. Smaller businesses, independent vendors, taxis and some local services may prefer or require cash.
When paying by card, transactions are normally charged in Dominican pesos and converted by your card issuer. Foreign transaction fees may apply depending on your bank or credit-card provider.
LOCAL EXPERIENCE
Keep Some Pesos With You
Even if you primarily use credit or debit cards, keeping a reasonable amount of Dominican pesos with you is useful for tips, taxis, small purchases and businesses that do not accept cards.
MOVING MONEY
Bringing Money into the Dominican Republic
Visitors may only need to exchange relatively small amounts of money, but living in the Dominican Republic or purchasing property can involve transferring much larger amounts from another country.
International bank wires and money-transfer services are commonly used to send funds to Dominican bank accounts. The total cost can vary considerably depending on the exchange rate, transfer fee, intermediary bank charges and receiving-bank fees.
How Much Cash Can You Bring into the Dominican Republic?
Travelers can bring cash into the Dominican Republic, but amounts over US$10,000 or the equivalent in another currency must be declared to Dominican Customs when entering or leaving the country.
Carrying more than US$10,000 is not automatically prohibited or taxed, but you must declare the funds and be prepared to provide documentation showing their lawful origin. Direccion General de Aduanas
If you are carrying a substantial amount of cash, make sure you complete the required customs declaration rather than assuming US$10,000 is simply a maximum allowance.
US$10,000+ = Declaration Required
INTERNATIONAL BANK WIRES
Traditional Bank-to-Bank Transfers
International wire transfers can be used to send larger amounts directly from a foreign bank account to a Dominican bank account. Fees may be charged by the sending bank, intermediary banks and the receiving bank.
MONEY TRANSFER SERVICES
Compare the Total Cost
International transfer services can sometimes provide competitive exchange rates and lower fees than traditional banks. Compare the amount that will actually arrive in the Dominican Republic rather than looking only at the advertised transfer fee.
LARGER TRANSFERS
Documentation May Be Required
Larger transfers, particularly those connected with a property purchase, may require documentation showing the source and purpose of the funds. It is a good idea to coordinate larger transfers with your bank and the professionals handling your transaction before sending the money.
Buying Property in the Dominican Republic?
Property purchases often involve transferring funds from another country for deposits, construction payments or closing. Wildefire helps buyers understand the purchasing process and coordinate with the appropriate banking, legal and financial professionals when needed.
BANKING IN THE DR
Opening a Bank Account in the Dominican Republic
Foreigners can open bank accounts in the Dominican Republic, and having a local account can make life much easier if you own property, spend extended periods in the country or plan to relocate here. Dominican banks commonly offer accounts in both Dominican pesos and U.S. dollars.
PESO ACCOUNTS
Everyday Banking
A Dominican peso account is useful for everyday expenses, paying local bills, receiving pesos and making transfers within the Dominican banking system.
U.S. DOLLAR ACCOUNTS
Hold Funds in USD
Many Dominican banks also offer U.S. dollar accounts, allowing you to keep funds in dollars rather than converting everything into pesos. This can be particularly useful for property owners and people receiving money from abroad.
OPENING AN ACCOUNT
Requirements Vary
Account-opening requirements vary by bank and by the applicant’s circumstances. Banks may request identification, financial information and documentation showing the source of funds, particularly for larger deposits or international transfers.
LOCAL EXPERIENCE
Banking as a Foreign Property Owner
If you are purchasing property or planning to spend significant time in the Dominican Republic, opening a local bank account can simplify recurring expenses, property-related payments and everyday banking.
Wildefire can help buyers connect with local banking professionals and understand what documentation they may need when setting up an account.
COMMON QUESTIONS
Dominican Republic Currency FAQs
Here are answers to some of the most common questions visitors, property owners and new residents have about money and currency in the Dominican Republic.
What currency is used in the Dominican Republic?
The official currency of the Dominican Republic is the Dominican peso (DOP), commonly written as RD$. Pesos are used for everyday purchases including groceries, restaurants, fuel, transportation and local services.
How much is $1 US in Dominican pesos?
The exchange rate changes throughout the day. Use the live currency converter above to see the current mid-market exchange rate between the U.S. dollar and Dominican peso. The rate you receive from a bank, exchange office, ATM or credit card may be different.
How much is $100 US in Dominican pesos?
The value of US$100 in Dominican pesos depends on the current exchange rate. For example, if the exchange rate were RD$60 to US$1, US$100 would equal RD$6,000. Check the live converter above for today’s rate.
Can I use U.S. dollars in the Dominican Republic?
U.S. dollars are recognized and accepted by some businesses, particularly in tourist areas, but the Dominican peso is the country’s official currency and is generally the better choice for everyday spending. If you pay in U.S. dollars, the exchange rate used by the business may not be as favorable as the rate available at a currency exchange office.
Should I bring U.S. dollars or Dominican pesos?
Bringing U.S. dollars and exchanging some of them into Dominican pesos after you arrive can be convenient. Local exchange offices in areas such as Sosúa and Cabarete often offer competitive rates. Having pesos is useful for restaurants, transportation, tips, small businesses and everyday purchases.
Do ATMs in the Dominican Republic dispense U.S. dollars?
Standard ATMs in the Dominican Republic dispense Dominican pesos, not U.S. or Canadian dollars. A foreign debit or credit card can still be used to make a withdrawal, with the transaction converted from your home currency into pesos.
Do I need my passport to exchange money?
Banks and established currency exchange offices normally require identification when exchanging foreign currency, so it is a good idea to bring your passport. Independent street money exchangers may operate differently and may not require the same identification.
How much cash can I bring into the Dominican Republic?
Travelers carrying more than US$10,000, or its equivalent in another currency, must declare the funds to Dominican Customs when entering or leaving the country. Carrying more than US$10,000 is not automatically prohibited, but documentation showing the lawful origin of the funds may be required.
Are credit cards widely accepted in the Dominican Republic?
Yes. Credit and debit cards are widely accepted at supermarkets, hotels, restaurants and many established businesses, particularly in tourist areas. It is still useful to carry some Dominican pesos for smaller businesses, tips, transportation and places that prefer cash.
Can foreigners open a bank account in the Dominican Republic?
Yes. Foreigners can open bank accounts in the Dominican Republic, although requirements vary by bank and by the applicant’s circumstances. Dominican banks commonly offer accounts in pesos and U.S. dollars and may request identification, financial information and documentation regarding the source of funds.
READY TO EXPLORE?
Considering Property in the Dominican Republic?
Currency exchange is just one part of planning a purchase or move to the Dominican Republic. Wildefire Properties can help you understand the buying process, explore North Coast communities, and find the right property for your needs.