What currency is used in Punta Cana - Travel safely and prepared

When acquiring a home in the Dominican Republic or traveling to the Caribbean country, it is important to know several basic issues that will allow us to enjoy our stay. Knowing what the currency of Punta Cana and the Dominican Republic in general is important, as well as the exchange rate with the main currencies of the world. Below we will see what the currency of the Dominican Republic is and some basic aspects of its economy.  

The currency of the Dominican Republic and its current exchange rate

The official currency in the Dominican Republic is the Dominican peso (RD$). This currency has coins of 25 and 50 cents, although they are rarely used, and 1 and 5 pesos. The higher monetary values are the bills of 10, 20, 50, 100, 500, 1,000, and 2,000 pesos. 

The currency of the Dominican Republic is generally very stable, therefore, the following values (obtained at the end of 2022) will remain similar in the coming months with total certainty:

1 Dominican peso - 0.018 €

1 € - 57.05 Dominican pesos

1 Dominican peso - 0.019 $ USA

1 $ USA - 54.19 Dominican pesos 

1 Dominican peso - 0.015 British pounds

1 British pound - 66.50 Dominican pesos 

In general terms, the monetary value of the Dominican peso is much lower than that of the major economies of the world, but it is higher than that of the economies in the region.

A very important aspect regarding Dominican monetary policy is that it is possible to pay in US dollars in many places, especially in tourist-oriented spaces. If you have US dollars or want to exchange your currency (whether € or others) for US dollars, you can do so, as it is legal to accept them, and many establishments accept this type of payment. However, it is always advisable to have Dominican pesos, both for small purchases and for transactions in places where US dollars are not accepted. 

Can I exchange currencies in the Dominican Republic?

Yes, in the Dominican Republic, particularly in Punta Cana, there are all kinds of establishments where you can exchange currencies and bills from around the world, both for dollars and Dominican pesos. 

International airports have exchange areas within the terminals, so you can exchange once you land. Both hotels and commercial spaces have exchange areas that allow you to obtain legal tender at any time, including all types of international currencies. 

Regardless of where you wish to exchange your currency, you can request both US dollars and Dominican pesos, but it is always advisable to have local currency, especially for small cash transactions. 

Prices in the Dominican Republic

Prices in the Dominican Republic for residents of the euro zone are generally low, especially outside the usual tourist circuits. For foreign residents, it is easy to find commercial spaces with lower prices than those offered by spaces aimed at tourism.

Obviously, prices in the Dominican Republic depend on various factors, but here are some examples of average prices in the Caribbean country:

Half a liter of beer, 2 €

One and a half liters of water, 0.6 €

One kilogram of potatoes, 1.4 €

One kilogram of rice, 1.10 €

Menu for two, between 20 and 30 €

One liter of gasoline, 1.1 €

Taxi flag drop, 2.5 €

These prices are somewhat higher than those in countries near the Dominican Republic, but are generally cheaper than in euro zone countries.  

The economy in the Dominican Republic

Money in the Dominican Republic is generally stable, which is why more and more investors are choosing to invest in the Caribbean country. 

If we take a reference from the last 20 years, approximately since the beginning of the last decade, the Dominican economy has grown by 5% on average annually, which represents exponential growth in the medium and long term. 

Undoubtedly, tourism and real estate investments have greatly contributed to this growth of the Dominican economy, as well as the stability of its main financial values.  

Exports from the Dominican Republic to other countries also provide an essential support for the economy, especially regarding the electricity, medical equipment, and fruit sectors. 

The Dominican Republic is the second-largest economy in the Caribbean, with growth that continues year after year. As a result of the dynamization of its economy, the country has modernized its infrastructure and services, allowing most citizens to access better economic conditions.  

One of the main premises of the Dominican economy is the stability of its macroeconomic data, which makes it one of the most reliable economies in Central America and the Caribbean region. 

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