Monday in the Dominican Republic
Currency
The Dominican Republic uses the peso as its currency, the current exchange rate is 1 USD = 43.16 Pesos, but keep in mind that this may fluctuate. CISabroad recommends that you travel with some cash and exchange it at the airport, but while in country the easiest way to obtain funds is through the local ATMs. Using your credit or debit card at an ATM will give you the preferential exchange rates and 24-hour access. The ATM will automatically convert the money into Pesos for you but may charge you a fee of up to $5 to $7 every time you withdraw money. Remember to call your bank and let them know you are traveling abroad. Also, set up a 4-digit pin number if you have not already. Travelers checks are not recommended as they are hard to cash and will charge large fees.
How much to bring?
You will need to bring cash to cover any spending money and most meals. In the past students have budgeted an additional $200 – $300 per week for these expenses, but this all depends on how extravagant you plan to get and how much you plan to buy and bring home for souvenirs. CISabroad does not recommend traveling with more than this amount in cash as you will be able to use your debit/credit cards in-country. Companies, such as AAA, are now giving out pre-paid debit cards to be used overseas so you may want to research this option.
Tipping
Wages are low in the DR so a small tip is greatly appreciated at restaurants, bars, hotels, etc.
Peso Cheat Sheet
$1 = 43.16 DOP
$5 = 215.80 DOP
$10 = 431.60 DOP
$20 = 863.20 DOP
$50 = 2158.00 DOP