Q:

What kind of currency is used in the Dominican Republic?

A:

Quick Answer

The official currency of the Dominican Republic is the Dominican peso, the value of which fluctuates with the market. While some tourist-oriented businesses may accept U.S. dollars, grocery stores and regular retail establishments will only do business in Dominican pesos.

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Full Answer

Dominican peso notes are minted in denominations ranging from 5 to 2,000, along with coins worth one and five pesos. Most banks are prepared to exchange pesos for dollars and other currencies such as the British pound and the Swiss franc. Visitors should expect to pay a premium on all such transactions.

According to XE.com, the exchange rate as of June 22, 2015 is about 45 Dominican pesos to the U.S. dollar.

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