The peso is the national Dominican currency. Coins consist of 1 and 5 pesos, and bills, known as RD are for 10, 20, 50, 100, 500, 1,000 and 2,000. US dollars are an easily exchanged foreign currency into the local Dominican Republic currency. Many tourism destinations like hotels, restaurants and businesses advertise their prices in US dollars as well as in Pesos, preferring to be paid in dollars, since they are worth more than the Peso. You will get the best rate of exchange from banks and independent money exchanges. Airports, hotels/resorts, restaurants, and other businesses usually offer a slightly lower rate of exchange. All will require proper identification, like a driver’s license or passport. Also, local ATM machines disburse only pesos.
The Dominican Peso’s value fluctuates between 30 to 35 pesos per US dollar and 48 to 53 pesos per Euro. You can change any currency you arrive with into pesos, but it’s good to be aware that it may be difficult to change the pesos back into your original currency. It’s recommended that tourists exchange only small amounts of money at a time. If you take a trip outside your resort, like a day tour to Santo Domingo, you will notice that prices are much cheaper there than at the resort. If you’re planning to shop, eat or drink in a bar there, be sure to take enough Pesos, since it will be cheaper and easier to pay that way and there will be less opportunity for you to be taken advantage of.