The Dominican peso (DOP) is the official currency of the Dominican Republic. however, in the real economy of the island and especially regarding tourists, the US dollar is the preferred currency, because the peso is much more unstable.
The euro is also a currency very well accepted by the Dominicans, comes from the hand of European tourists, mainly Spanish.
Punta Cana Currency and Money exchange- Updated guide and local tips
I know that money is a very important aspect (perhaps the most important) in planning a trip abroad, there are many differences between the purchasing value of the currencies of different countries and that can bring confusion to a foreigner about the real value of the things of destiny you will visit.
In this guide I will provide you with information about the updated exchange rate in Punta Cana, Dominican Republic, and some tips on how to use the money properly locally.
The currency exchange rate in Punta Cana
The exchange rate in Punta Cana remains between 47-51 Dominican pesos per US dollar, it can be slightly variable day after day.
I leave a link below for a very useful currency converter, this converter is updated.
What currency is best in Punta Cana?
The US dollar is the most versatile and easy-to-use money in Punta Cana, it will give you much more purchasing power locally. All regional tourism in the Dominican Republic moves through this currency.
What currency do you tip in Punta Cana?
Tipping is a voluntary way to show appreciation for good service or treatment received for any eventual service, the well-accepted currency to tip in Punta Cana are the US dollar, the Euro and the Canadian dollar. The $ 1 bills are very popular for tips. You can also tip Dominican pesos.
Using a credit card in Punta Cana
Airline Rewards, Diner’s Club, American Express, and other cards are available at most hotels and resorts in Punta Cana. Visa and Mastercard are accepted. However, it is important to keep in mind that some small stores and restaurants only accept cash as payment.
Be sure to call your bank in advance and let them know that you will make your trip to Punta Cana, credit card companies will put a security lock on your card if it is used in any transaction in Punta Cana without prior knowledge.
For security reasons, you should only use your credit card at your hotel accommodation and ATMs in trusted sites.
Best place to exchange money in Punta Cana
In the city of Punta Cana, the exchange rate is usually better, it is advisable to change your USD here directly using ATMs, at the airport and the hotel the exchange rate is very low and unfavorable.
You can use local exchange houses or banks. If you are going to stay inside the resort, the US dollar is accepted without problems, so you don’t have to worry about changing. But if you are going to get to know the city it is advisable to have some pesos.
In the resort, you can use the ATM to get Dominican pesos and USD. However, local ATMs outside the complex area only disburse Dominican pesos. You should also keep in mind that some banks have a limit on the amount of money that can be withdrawn in a day or a single transaction.
Can you use Canadian money in Punta Cana?
The short answer is no, you cannot use the Canadian dollar in Punta Cana, the Canadian dollar has a very good value but the exchange rate is not very good, the US dollar is the most versatile currency to use, many of the local stores have their prices in US dollars.
For tips, any currency is accepted, except for coins (foreign) since local banks do not accept coins for exchange.
Should I bring cash or exchange the money in Punta Cana?
It all depends on your plans, if you are going to stay inside the resort you can bring US dollars, inside an all-inclusive resort, everything is based on this currency. If you plan to go outside the resort and get to know the city, Dominican pesos are the best option.
Where can I exchange money in Punta Cana?
There are different options of reliable institutions in Punta Cana to exchange your money safely, You can change your money in Vimenca, this bank has branches throughout the country, and it is very reliable, also in the downtown mall of Punta Cana there are several Dominican banks where you can exchange your money safely and reliably.
I must submit this as updated information, in the Dominican Republic and Punta Cana in general, the most popular and usual banks are the Reserve Bank and the Popular Bank, while I was making a transaction in Reserve Bank, I saw a tourist who entered to change a few dollars to Dominicans pesos and they told him that to make the transaction he must have an account in the bank.
That requirement was very strange to me, so I called the popular bank and asked if to change dollars to Dominican pesos it was necessary to have an account in the bank, they confirmed that it was not necessary, so if you decide to change your dollars in a bank from a mall in Punta Cana, I recommend you choose the popular bank.
The value of money in the Dominican Republic and its equivalent to US dollars
The Dominican peso is the national currency; 50, 100, 200, 500, 1000 and 2000 Dominican pesos bills, made of cotton, and 1, 5, 10 and 25 Dominican pesos coins are in circulation.
There was also a 20 pesos bill, but it is being taken out of circulation because it was very rejected by the population because it was made of a very fragile different material, it broke easily in the pocket.
$50 Dominican pesos>
This is the average value of 1 US dollar, usually, it is an appropriate tip
with this denomination you can buy a hotdog, or a 2-liter coke
The Primate Cathedral of America, the oldest in America, is stamped on the front of this bill
$100 Dominican pesos
This is the average value of 2 US dollar, the most common bill
with this denomination you can buy a cheap lunch in the city
the “three parents of the homeland” are stamped on the front of this bill
$200 Dominican pesos
This is the average value of 4 US dollar
with this denomination you can buy a lunch for two people in the city, or the fare for a taxi
The three Mirabal sisters, opponents of the government dictatorship of Rafael Leonidas Trujillo are stamped on the front of this bill
$500 Dominican pesos
This is the average value of 10 US dollar
with this denomination you can buy two cheap pizzas or a couple of normal shirts
Pedro Henriquez Ureña and Salome Ureña, two of the most important figures in Dominican writing and poetry are stamped on the front of this bill
$1000 Dominican pesos
This is the average value of 20 US dollar
with this denomination you can have lunch accompanied and drink something in an average restaurant
It has the presidential national palace stamped on the front of this bill
$2000 Dominican pesos
This is the average value of 40 US dollar
It is the bill of greater denomination generally used for transactions of greater consideration
Emilio Prud’Homme and Jose Reyes composers of the Dominican national anthem are stamped on the front of this bill
$1 Dominican pesos
This is the average value of 0.02 US dollar
It is the lowest denomination currency, practically nothing can be acquired with this currency, it is used to complete prices.
Juan Pablo Duarte, one of the founding leaders of the Dominican Republic is stamped on the front of this coin.
$5 Dominican pesos
This is the average value of 0.10 US dollar
with this denomination you can buy a couple of cheap mints or chewing gum
Francisco Del Rosario Sanchez, one of the founding leaders of the Dominican Republic is stamped on the front of this coin.
$10 Dominican pesos
This is the average value of 0.20 US dollar
with this denomination you can buy a cheap small soda (in the city)
Ramon Matias Mella, one of the founding leaders of the Dominican Republic is stamped on the front of this coin.
$25 Dominican pesos
This is the average value of 0.50 US dollar
with this denomination you can pay typical public transport in the city
Gregorio Luperon, a relevant leader and former president of the Dominican Republic is stamped on the front of this coin.
Useful tips on money exchange
Get as many of 1 US dollar bills as possible for tips.
If you are going to go outside the resort in Punta Cana to get to know the city, take some Dominican pesos with you, you will get better prices by paying in Dominican pesos in the city.
100,200,500 are the most versatile Dominican pesos bills to pay in the city, some small stores or smaller businesses occasionally find it difficult to change for bills of 1,000 and 2,000.