Menu
Countryaah.com
  • Europe
    • Countries in the EU
    • Countries in South Europe
    • Countries in North Europe
    • Countries in West Europe
    • Countries in East Europe
    • Capital Cities in Europe
    • Europe Population
    • Largest Countries by Area
    • Largest Countries by Population
  • America
    • Caribbean
    • North America
      • United States
      • Capital Cities in North America
      • North America Population
    • Central America
    • South America
      • Capital Cities in South America
      • South America Population
    • Latin America
  • Asia
    • Countries in Middle East
    • Countries in East Asia
    • Countries in South Asia
    • Countries in Southeastern Asia
    • Countries in West Asia
    • Countries in Central Asia
    • Capital Cities in Asia
    • Asia Population
    • Largest Countries by Area
    • Largest Countries by Population
  • Africa
    • Countries in Southern Africa
    • Countries in Central Africa
    • Countries in North Africa
    • Countries in East Africa
    • Countries in West Africa
    • Capital Cities in Africa
    • Africa Population
    • Largest Countries by Area
    • Largest Countries by Population
  • Oceania
    • Countries in Melanesia
    • Countries in Micronesia
    • Countries in Polynesia
    • Capital Cities in Oceania
    • Oceania Population
  • United States
    • Alabama Cities
    • Alaska Cities
    • Arizona Cities
    • Arkansas Cities
    • California Cities
    • Colorado Cities
    • Connecticut Cities
    • Delaware Cities
    • Florida Cities
    • Georgia Cities
    • Hawaii Cities
    • Idaho Cities
    • Illinois Cities
    • Indiana Cities
    • Iowa Cities
    • Kansas Cities
    • Kentucky Cities
    • Louisiana Cities
    • Maine Cities
    • Maryland Cities
    • Massachusetts Cities
    • Michigan Cities
    • Minnesota Cities
    • Mississippi Cities
    • Missouri Cities
    • Montana Cities
    • Nebraska Cities
    • Nevada Cities
    • New Hampshire Cities
    • New Jersey Cities
    • New Mexico Cities
    • New York Cities
    • North Carolina Cities
    • North Dakota Cities
    • Ohio Cities
    • Oklahoma Cities
    • Oregon Cities
    • Pennsylvania Cities
    • Rhode Island Cities
    • South Carolina Cities
    • South Dakota Cities
    • Tennessee Cities
    • Texas Cities
    • Utah Cities
    • Vermont Cities
    • Virginia Cities
    • Washington Cities
    • West Virginia Cities
    • Wisconsin Cities
    • Wyoming Cities
Countryaah.com

Currency in Dominican Republic

The currency in the Dominican Republic is the Dominican Peso. One peso is equal to 100 centavos. The official ISO code for the Dominican peso is DOP. The “$” symbol as well as the abbreviations R $ and dom $ can be used as abbreviations. The abbreviation ¢ can be used for the Centavos.

History of the Dominican currency

The Dominican peso was introduced at the same time the Dominican Republic gained independence from Haiti in 1844, replacing the previously valid Haitian gourde. From 1891 to 1897 the Dominican Republic had a second currency, the franc.

In 1905, the Dominican peso was replaced by the US dollar, at the rate of 5 pesos to one dollar. The US dollar was the valid currency of the Dominican Republic until 1937, when it was replaced by the peso oro. Nonetheless, the US dollar was retained until 1947, especially since no banknotes, only coins, were issued for the peso oro. In 1947 separate banknotes were printed for the peso oro.

All banknotes are marked “Este billete tiene fuerza libertoria para el pago de todas las obligaciónes públicas o privadas”, which means “This note has the discharging effect of being used for payments for all private and public obligations”.

In 2011, the central bank announced that from this point in time all peso oro banknotes will now be issued as peso Dominicano.

Since 1947 the value of a peso has always been roughly the same as that of a US dollar, without being directly linked to it. However, from around 1980 the Dominican Peso experienced a continuous decline in value and reached its lowest value in 2004 at a rate of USD 1 for 60 DOP. After a slight recovery, the value has leveled off at around 1:35 to 1:40 in relation to the USD in recent years.

Exchange into Dominican Peso

The Dominican Peso is a purely domestic currency and may not be exported. It is therefore not possible to exchange euros for Dominican pesos abroad, for example before starting a vacation trip to the Dominican Republic.

Read more:

  • Dominican Republic Population
  • Where is Dominican Republic Located?
  • Dominican Republic Holidays
  • Dominican Republic Facts
  • Dominican Republic Airports
  • Embassies of Dominican Republic
  • Dominican Republic Flag and Meaning
  • Dominican Republic Import Restrictions
  • Weather and Climate in Dominican Republic
  • Dominican Republic Major Exports
  • Dominican Republic Major Imports
  • List of Foreign Embassies in Dominican Republic
  • What is the Capital of Dominican Republic? Santo Domingo

©2022 Countryaah.com