Is It Possible To Get DR Pesos In Canada?

[exoticspirit]

Just wondering among the Canucks here, is it possible to get DR pesos somewhere in Canada (I'm in the Toronto area) before I come down to the DR? I haven't been able to find a foreign exchange service up here that deals with DR currency yet.

[culoamaro]

Just wondering among the Canucks here, is it possible to get DR pesos somewhere in Canada (I'm in the Toronto area) before I come down to the DR? I haven't been able to find a foreign exchange service up here that deals with DR currency yet.

I don't know if it's possible, but you really don't need to do that...
There are change places everywhere in Dr. Especially if you go to Sosua, but even if you go to other places you can always find a place to change your money and they always give you a much better rate than changing at home.

[Seville]

Any major bank should be able to do a currency exchange although you may have to give them some lead time depending on the currency. But you can pay for your taxi in dollars and change money in Sosua.

[jose1234]

Yep listen to Robert. Don't worry about pesos in Canada if your flying into POP. Taxi's take dollars and then exchange in Sosua. If you exchange in the airport in the DR you will get a terrible rate...something like 33 to 1, but in Sosua its currently as of 11/5/12 about 39.3 to $1 usd or slightly better, depending upon the place. They take dollars at the airport in the DR for the visa and food and pretty much everything. If you feel that you have to change money at the airport, do only what you need to get you to Sosua. If you exchange USD at the bank or western union you will need to bring along your passport. I think western union will exchange canadian dollars as will many other people, but your safest bet is to bring US dollars.

[dquick]

Just wondering among the Canucks here, is it possible to get DR pesos somewhere in Canada (I'm in the Toronto area) before I come down to the DR? I haven't been able to find a foreign exchange service up here that deals with DR currency yet.

You can from a real bank, bit the exchange rate will suck.

You should exchange your money into US dollars. You get a better exchange rate off this in the DR. You will also need to pay for a tourist card once in DR. This booth does not accept Canadian dollars.

[weyland]

You are only coming for four days? So you can't be bringing millions. Bring US dollars. Not worth the hassle of changing Canadian for the tiny amount you will lose on the exchange rate.

[whynotme]

Yep listen to Robert. Don't worry about pesos in Canada if your flying into POP. Taxi's take dollars and then exchange in Sosua. If you exchange in the airport in the DR you will get a terrible rate...something like 33 to 1, but in Sosua its currently as of 11/5/12 about 39.3 to $1 usd or slightly better, depending upon the place. They take dollars at the airport in the DR for the visa and food and pretty much everything. If you feel that you have to change money at the airport, do only what you need to get you to Sosua. If you exchange USD at the bank or western union you will need to bring along your passport. I think western union will exchange canadian dollars as will many other people, but your safest bet is to bring US dollars.


with one exception you are dead on:corky:

but DO NOT exchange canadian for usd and then exchange that for Dr pesos as you end up with a lot less pesos due to the bank exchange charges.

always take your own currency to 90% of the world
the one major exception is CUBA where you never take usd as they nail you 10% exchange.

[whynotme]

You are only coming for four days? So you can't be bringing millions. Bring US dollars. Not worth the hassle of changing Canadian for the tiny amount you will lose on the exchange rate.

see above:rofl::rofl:

i learned the hard(expensive) way not to do the back and forth exchange rate fees:corky:

[exoticspirit]

Thanks everyone! Fortunately, many of the ATMs up here in Canada (including my own bank CIBC) can supply US dollars in addition to Canadian dollars. So I'll make sure I bring enough. I know that Rick from Rocky's will take Canadian dollars for my room.

[deezl]

Yep listen to Robert. Don't worry about pesos in Canada if your flying into POP. Taxi's take dollars and then exchange in Sosua. If you exchange in the airport in the DR you will get a terrible rate...something like 33 to 1, but in Sosua its currently as of 11/5/12 about 39.3 to $1 usd or slightly better, depending upon the place. They take dollars at the airport in the DR for the visa and food and pretty much everything. If you feel that you have to change money at the airport, do only what you need to get you to Sosua. If you exchange USD at the bank or western union you will need to bring along your passport. I think western union will exchange canadian dollars as will many other people, but your safest bet is to bring US dollars.

If you absolutely must get pesos before leaving the airport - skip the money transfer kiosk and go outside and hit an ATM. If you exchange at the kiosk you'll get around 33:1 (using the US dollar as an example) so for every $100 you exchange you'll lose around $15-16, if you take cash out at the ATM you'll pay a $3 fee but get the full exchange rate (39.7:1 as of today). You'll also pay your bank fee (unless you have a CC with no international exchange fees), but it'll be a lot less in total than what you'd lose at the kiosk.

[Señor JDR of Medellin]

Thanks everyone! Fortunately, many of the ATMs up here in Canada (including my own bank CIBC) can supply US dollars in addition to Canadian dollars. So I'll make sure I bring enough. I know that Rick from Rocky's will take Canadian dollars for my room.

You can change money in many places in Sosua.

[Kevy]

Just wondering among the Canucks here, is it possible to get DR pesos somewhere in Canada (I'm in the Toronto area) before I come down to the DR? I haven't been able to find a foreign exchange service up here that deals with DR currency yet.


even if you find a place that will do it you will be taking a major hit. I once asked about getting Brazilian Reals in Canada and the rate at the time was around 1.7 to the CDN and the bank would only give 1.25:mad:.

I met a guy flying out of houston to Bogota once and he changed some money before he left and got around 1200 to the dollar and it was trading around 2000, you are better off taking a hit at the airport than buying currencies that are not highly traded in canada, euro, USD, UK pounds and Yen are about the only ones that will give you a decent rate.

[Si_Poppi]

[/YELLOW]

with one exception you are dead on:corky:

but DO NOT exchange canadian for usd and then exchange that for Dr pesos as you end up with a lot less pesos due to the bank exchange charges.

always take your own currency to 90% of the world
the one major exception is CUBA where you never take usd as they nail you 10% exchange.I can buy US$ for 1% and the best cambio I have ever seen in the DR still takes 3% off CDN$.

Most Canadian banks charge around 3% for US$, the VISA/MC networks generally charge a 2.5% currency conversion fee, which are both basically the same hit you will take changing Loonies at the best of cambios.

I remember when it was imperative for Canadians to take US$ to the DR as the hit for CDN money was 10% and up.

[whynotme]

I can buy US$ for 1% and the best cambio I have ever seen in the DR still takes 3% off CDN$.

Most Canadian banks charge around 3% for US$, the VISA/MC networks generally charge a 2.5% currency conversion fee, which are both basically the same hit you will take changing Loonies at the best of cambios.

I remember when it was imperative for Canadians to take US$ to the DR as the hit for CDN money was 10% and up.


back in 2006 we were only getting 66cents for a usd:mad: and in the dr it was fucking expensive for us.
it was costing us more back then for a st or tln than it is today because of the exchange rate and value of the loonie/everything:icontd:


but this summer in the dr i was getting more pesos per 100 cnd than i was for 100 usd. so i used cnd as i had lots and kept the usd for when i really need them ( i get some at work at par but not a lot)

[exoticspirit]

but this summer in the dr i was getting more pesos per 100 cnd than i was for 100 usd. so i used cnd as i had lots and kept the usd for when i really need them

Now this is really interesting ... when we can get more for our loonies.

[TC]

Just wondering among the Canucks here, is it possible to get DR pesos somewhere in Canada (I'm in the Toronto area) before I come down to the DR? I haven't been able to find a foreign exchange service up here that deals with DR currency yet.

I know a lot of responses to your question are about Sosua, but I believe you have posted elsewhere that you are stopping at Blackbeard's, at least first.

BB's is in the gated community of Costambar. As you as your taxi enters the gate, ask him to stop at Jenny's (Yenny's?) market. It is a little bodega about half a block past the gate and is the best place to change money. As soon as you walk in the door, turn right and there will be a table. When you get to the table, some one will ask if you want cambio (change). Tell them yes.

They will take you to a tiny room in the back, which at first feels like you are about to get jumped. You are not - it's perfectly safe. They will give you a very good exchange rate.

[questner]

Not for this trip but just an example, here is the best rate available. Take your CDN cash and exchange it to USD cash at the exchange house. The house charges less than a bank, at least 1% less for lower amounts. Then buy USD denominated TC (AMEX traveler cheques) at your bank. If you got the right account then you don't pay commission on this purchase, otherwise it is usually 1%. DR banks do not cash CDN denominated AMEX TC. USD TC exchange rate into pesos is actually higher than USD cash into DOP even after a fee. Get at least $100 TC's or higher if you can get them. TC are traceable but are safer to bring in than cash in large amounts. Take more than 10K in CDN or USD whichever is higher and you have to declare. If spot rate remains unchanged then it is the cheapest way to go. Do your exchanges Monday to Thursday before 11 am.

[Citynights]

the DR sucks when comes to exchanging canadian dollar for pesos...even when our dollar was 2 cents more than US exchange you would lucky to get the same as the US dollar for pesos...I like to keep tabs & use Wallys exchange in caberate to see what the daily rates are..it gives his rate,dominican bank rate, yahoo world rate..

it always costs 110-120 pesos per hundred X 10= 1100-1200 pesos= 27.77-30.30 dollars in DR per 1000 CAD...
Exchange in canada is $20 per 1000 US.....2 cents a dollar....

todays exchange would cost me $14 CAD for 1000 US...in canada

Wally rate today
US dollar=39.60
CAD dollar=38.50
today would of cost me 27.77-14=$13.77 or 545 pesos...that BJ is the suck shack...6 to 8 beers..a great fucking dinner...it adds up..exchanging 2000 is a daytime ST=1000 pesos plus motorconcho... but if someone has a better deal....please tell..:confused:.

[Si_Poppi]

Not for this trip but just an example, here is the best rate available. Take your CDN cash and exchange it to USD cash at the exchange house. The house charges less than a bank, at least 1% less for lower amounts. Then buy USD denominated TC (AMEX traveler cheques) at your bank. If you got the right account then you don't pay commission on this purchase, otherwise it is usually 1%. DR banks do not cash CDN denominated AMEX TC. USD TC exchange rate into pesos is actually higher than USD cash into DOP even after a fee. Get at least $100 TC's or higher if you can get them. TC are traceable but are safer to bring in than cash in large amounts. Take more than 10K in CDN or USD whichever is higher and you have to declare. If spot rate remains unchanged then it is the cheapest way to go. Do your exchanges Monday to Thursday before 11 am.TC are typically less than cash in the DR.

Banco Santa Cruz has around a .15 peso spread between buy and sell for US$.
Meaning if they buy $100 and then sell it, they make a grand total of 15 pesos.
I find it hard to believe that they make even less on a TC.

[whynotme]

Now this is really interesting ... when we can get more for our loonies.


in oct in both thailand and the phillipines we got more baht/pesos for every 100$ cnd than we could for 100$usd.
so the guys that took usd lost all around as they paid more than 1$cnd to get 1$usd and then got less than if they hadnt changed it to begin with.

most canadian members here say i am wrong or at least not the norm but when i was in the dr this summer i used western union to change my cnd to pesos and did get a better rate than the usd would have got me and i had both with me so i used cnd.:confused: ( our dollar was at 1.03 to the usd then so its only logical it should bring more but it is the dr:rofl: maybe i got lucky and got the newbie best rate:corky:

[Si_Poppi]

the DR sucks when comes to exchanging canadian dollar for pesos...even when our dollar was 2 cents more than US exchange you would lucky to get the same as the US dollar for pesos...I like to keep tabs & use Wallys exchange in caberate to see what the daily rates are..it gives his rate,dominican bank rate, yahoo world rate..

it always costs 110-120 pesos per hundred X 10= 1100-1200 pesos= 27.77-30.30 dollars in DR per 1000 CAD...
Exchange in canada is $20 per 1000 US.....2 cents a dollar....

todays exchange would cost me $14 CAD for 1000 US...in canada

Wally rate today
US dollar=39.60
CAD dollar=38.50
today would of cost me 27.77-14=$13.77 or 545 pesos...that BJ is the suck shack...6 to 8 beers..a great fucking dinner...it adds up..exchanging 2000 is a daytime ST=1000 pesos plus motorconcho... but if someone has a better deal....please tell..:confused:.It used to be much worse changing Loonies in the DR.

Wally`s is a good example of a good cambio and he typically dings CDN$ for 3%.
If the CDN$ is worth $1.03 US on the forex markets, the peso exchange at a good cambio will be roughly equal to that of the US$.

This is not bad at all and is comparable to the cost to buy US$ at a bank or the currency exchange fee charged by the VISA/MC networks.
Considering local and foreign ATM fees and some ridiculous tiny withdrawal amounts at some ATM, CDN cash can be better than the ATM.