What is the Currency in the Dominican Republic? 

Sun-soaked beaches, palm-lined coastlines, and piña coladas with an extra cherry on top. If the Dominican Republic has made its way onto your travel wishlist, you’re not alone. But before you trade in your office shoes for sandals, there’s one practical matter worth sorting: What is the currency in the Dominican Republic? 

Before you start planning your trip, booking excursions, ordering your travel money, and scanning local menus, knowing about the money and how it works is the most important information to have in your travel pack. 

In this guide, we take a deep dive into the currency in the Dominican Republic, from its colourful denominations and curious history to when to use cash or card, and where to exchange your money without hassle. Whether you're heading to Santo Domingo, Punta Cana, or a hidden beach on the Samaná Peninsula, this is your ultimate currency cheat sheet. 

Currency in the Dominican Republic 

Let’s start with the basics. The currency in the Dominican Republic is the Dominican peso, with the international currency code DOP. You’ll often see it represented by the familiar $ symbol, but to avoid confusion with the US dollar, locals frequently use RD$ (short for República Dominicana) instead. 

So yes, when a souvenir shop in Santo Domingo lists something for “$200”, they’re not expecting USD, you’re looking at 200 Dominican pesos, which is much more manageable. 

The Dominican peso is a fully independent currency. It’s issued by the Central Bank of the Dominican Republic, and it floats freely on the foreign exchange market, meaning its value can shift depending on economic conditions. 

If you're wondering ‘what is the currency Dominican Republic visitors should carry,’ it's the peso, plain and simple. While some hotels and resorts accept US dollars, you’ll get better value (and fewer puzzled looks) using the local currency. 

Dominican Peso Denominations 

The Dominican peso is as vibrant and varied as the island itself, with a range of banknotes and coins in active circulation. If you’re a fan of bold designs and practical currency, you’re in for a treat. 

Dominican Peso Notes 

Here are the denominations you’re likely to encounter: 

• RD$20 – Often polymer, great for small purchases. 

• RD$50 

• RD$100 

• RD$200 

• RD$500 

• RD$1,000 

• RD$2,000 – The largest commonly used note. 

Each note features prominent Dominican historical figures and monuments. Security features include watermarks, raised printing, and even colour-shifting inks, handy if you're worried about counterfeit currency. 

Dominican Peso Coins 

Coins are commonly used for smaller transactions. Denominations include: 

• 1 centavo (1c) 

• 5 centavos (5c) 

• 10 centavos (10c) 

• 25 centavos (25c) 

• 50 centavos (50c) 

• RD$1 

• RD$5 

• RD$10 

• RD$25 

Many coins feature the coat of arms or portraits of national heroes. While centavos are technically still legal tender, most prices are rounded and you’ll rarely see coins below 5 or 10 centavos in everyday use. 

The History of the Dominican Republic’s Currency 

Now for a bit of history. The Dominican Republic’s monetary journey is a fascinating one full of foreign rule, ambitious reform, and the occasional economic curveball. And understanding it gives you a richer sense of the island’s national identity. 

Haitian Gourde 

For a brief and tumultuous period in the 19th century, the Haitian gourde was the official currency in what is now the Dominican Republic. 

From 1822 to 1844, the entire island of Hispaniola was under Haitian rule, and so the gourde, Haiti’s national currency, was circulated throughout the territory. 

This arrangement ended when the Dominicans declared independence in 1844. With political autonomy came the need for a new currency that would reflect the country’s sovereignty. 

The Introduction of the Dominican Peso 

The Dominican peso made its debut in 1844, shortly after the country’s independence. Initially, it was pegged to the Spanish real and later to other currencies, including the US dollar. 

Over the decades, the Dominican peso underwent several revaluations and redesigns, especially in the 20th century when inflation and economic reforms called for a more modern, manageable system. In 1947, the current system was formalised, with the Central Bank taking full control of the issuing process. 

By the 1990s, the peso was fully decimalised, and the modern banknotes and coins we know today began to take shape. New security features, updated imagery, and polymer notes have all helped ensure its place as a stable and trusted currency. 

The Franco – A Currency That Never Was 

Here’s a little-known twist: in the early 1990s, the Dominican government introduced a new currency called the franco. It was meant to run alongside the Dominican peso as a separate monetary unit, potentially replacing it. 

The idea was to create a more stable alternative for large transactions, but despite being printed and partially distributed, the franco never took off. Political instability and lack of public support meant the experiment fizzled out before it had a chance to begin. 

To this day, the franco remains an odd footnote in the country’s economic history collectors may still find notes, but they were never officially used in commerce. 

Currency Tips for Travellers 

Travelling with confidence means knowing how and when to use the local currency. Here’s a quick guide to handling your money in the Dominican Republic like a pro. 

Should I Use Cash or Card in the Dominican Republic? 

This is a biggie. 

• Cards are accepted in cities, hotels, and most larger restaurants and shops. 

• Cash, however, is essential in smaller towns, rural areas, beach bars, taxis, and markets. 

We recommend always carrying some pesos on you, even just RD$500 to RD$1,000 for backup. ATMs are widely available but may charge fees for international cards. You’ll also avoid nasty surprises on rates by exchanging your money in advance with a trusted provider like Travelex. 

Can I Use US Dollars in the Dominican Republic? 

Technically, yes you can in resorts and tourist zones. But outside the bubble, it's all about the peso. 

You’ll get a better exchange rate and save yourself from confusion or overpaying if you pay in Dominican pesos. Trust us, it’s worth it. 

Ready to buy some Dominican pesos? 

You’ve read the guides, had the daydreams, planned the holiday and now you’re ready to buy some Dominican pesos. 

Buy Dominican pesos online and get free home delivery on orders over £500 or choose to click & collect from any of the hundreds of convenient locations around the UK, including most major airports. 

Get great rates and pay no commission when you buy online now. 

Final Thoughts 

So, what is the currency Dominican Republic visitors should pack? It’s the Dominican peso, or RD$, a colourful, reliable, and uniquely Caribbean currency that reflects the culture and history of this fascinating nation. 

From its roots in post-independence pride to its battle with inflation and flirtation with the franco, the peso has stood the test of time. And for today’s travellers, it’s not just about cash in hand, it’s about experiencing the Dominican Republic like a local, without the money mishaps. 

Whether you're sipping coffee in Santiago, bargaining in a Santo Domingo market, or tipping your tour guide after a day of waterfalls and sunshine, having the right currency makes all the difference.