for those of you who may og just came back from the dominican what is the currency exchange rate to expect for us and canadian funds please. heading to Breezes next week
The last I heard it was 26 pesos to 1$ Canadian. This is not good. Better to Buy your US$ from the bank in Canada before you go. You can use US$ there or change to pesos. Personally I never use pesos. You can buy everything in US$!
In January it was 33 pesos for $1 US.
and a lowly 26 pesos for $1 CDN.
We just got back Thursday and for $1 US we got about 30 pesos.
I’ll bet that was at the hotel. They’ll take about 10% just for the convenience …
And don’t change more than you need. It’s generally been impossible to change pesos back into $US, but this year I ran into someone who did it. The exchange rate was an incredible 44 pesos to buy a US dollar… OUCH.
We were there last week and our Air Transat rep exchanged our US currency for us at 0.33. It was great because he then change back our pesos to US for us when we left.
Where would you change your money if not at the Hotel you were staying in? The Gran Vendana for example.
Change you money at Western Union just ouside the playa dorado complex. There are other places to exchange in the complex and I always check to see who offers the best rate
[quote author=boards board=Poparea thread=1171725243 post=1171820774]Where would you change your money if not at the Hotel you were staying in? The Gran Vendana for example.[/quote]Next door at the Paradise is pretty good at 33 compared to 31 at the plaza cambios.
Make sure you use the bank run cambio in the lobby and not the reception desk.
Western Union is a little better and the best I know of.
Some of the cambios in town that don’t post their rates will give decent rates but they give better rates to locals.
In Canada our dollar is sitting at .85 per US dollar. With the difference being .15 would I not be better off not converting to US cause the difference in PESOS between US and Canadian is only around 7 cents? Perhaps my math or reasoning may be a bit off - help needed!
[quote author=sqiggly board=Poparea thread=1171725243 post=1171857372]In Canada our dollar is sitting at .85 per US dollar. With the difference being .15 would I not be better off not converting to US cause the difference in PESOS between US and Canadian is only around 7 cents? Perhaps my math or reasoning may be a bit off - help needed!
Thank you[/quote]The difference is 7 pesos, not cents.
7 pesos is around 27% of 26 and 26 is very good for the DR.
It costs around 1.19 to buy US$ now.
You can get over 28 per Loonie from the ATM.
The spread at the Playa Dorada plaza cambios is very low at around 26 to 31 but it is easy to get 33 (Paradise) to 33.4 (Western Union).
These percentages can add up to significant amounts of cash.
Using the numbers above, for 1.19 Canadian ($1 US), I can buy 33 pesos. That’s 3.6 cents per peso.
For $1 CDN, I can buy 26 pesos. That works out to 3.85 cents per peso.
So 0.25 cents doesn’t sound like a whole lot, but consider if you’re trading $100 CDN worth, then you are looking at getting 2600 pesos. So 2600 times 0.25 works out to 6 dollars and 50 cents …
I believe in taking US$$ and so far no one can change my mind. Just remember don’t change them back if you have some left over, put them in your drawer for next year. Those US$$ can be used in Europe as well.
I believe that the Western Union in the plaza has the best exchange rate. Also, if you end up with pesos at the end of your vacation you can try to exchange them with a rep at your resort. It’s not a guarantee that they’ll be able to but I used to do it for travellers when I worked down there as a rep - assuming I had enough cash on me to do so.
The Western Union is no longer in the Playa Dorada plaza.
It is now on the main road into Puerto Plata in a strip plaza on the right side just before the stadium.
I have read over and over that Western Union is no longer in the Plaza but on the road outside. Never did I “read” that it is no longer in the Complex. Not that I needed it but I did look for it on my way to the Plaza one day not realizing that it is on the road outside the Complex on the way to Puerto Plata!
Thanks again for clearing that up for me!
Personally I just get peso’s from the ATM and if I have any left over I keep them for my next trip. When I first went I used to take $US and some £UK, the best exchange rate I have found was from the guys on Sosua Beach just at the start of the shops on the beach or near to the Voodoo lounge. That said the little money changers in the Plaza at Playa Dorada have offered better exchange rates that advertised when I say I can get better rates in Sosua, they need our money so feel free to try and get a better rate, especially if you are changing a reasonable amount.
Cheers Amandalou :-*
I found it best to have some US dollars and $RD available.
Were able to get 33.25 from Janet’s Mercado east end of Cabarete. they took our travelers checks at that rate also.
Most of the Cambio’s there were paying 32/1$ US at the time.
Some would negotiate this rate. We could get 33 but they would only pay 31.50 on the Tchecks. We also visited a Bank in Puerto Plata and got 33+ but I don’t recall which bank this was.
Our first night in Cabarete I asked the waiter if they took US$.
We made a mistake of paying this way as our restaurant only converted @30/1 US and gave us change in PESOs. Thus bumping their profit margin by 10%. I expressed my displeasure of this practice and had I known I could have easily converted to PESOs before hand. Lesson learned
At North Coast Diving In Sousa, They quoted the dives in US$.
They stated they would take our travelers check . When it came time to pay, the boss wasn’t available and the young lady wanted me to convert my Tchecks at the Stand next store and pay her in Pesos at a rate of 35/1. Between the cambio offering 31.50 and NCD wanting 35/1 My excursion would have cost an extra 15% + -… I decided to wait for the boss. So it all came out OK.
We also had an issue with someone wanting Euros but I’ll save that for another day.
So I would suggest having US$ and RD$ available. Spend all your PESO’s before you get home. They take $US at the Airport. Remember you need 5 Pesos to get into the Airport.
Have a great time, we did ! ;D
[quote author=dfirst1 board=Poparea thread=1171725243 post=1172413964] Remember you need 5 Pesos to get into the Airport.
What is this all about???
Huh? You don’t need any money to get into the airport …
Now if someone is bringing you by private car, they’ll have to pay to get the car in. But for those taking the provided bus transfer or a taxi, nada.