The currency is the Dominican Republic Peso (DOP), which is divided into 100 centavos. Many of the hotels and restaurants in the main tourist destinations display their prices in US dollars as well as in Dominican Pesos, as US dollars are widely accepted. Some places will also accept Euros.
The peso cannot be exchanged outside of the Dominican Republic, though major currencies can be converted into pesos at Central Bank approved bureaux. Only a small percentage of the pesos bought can be reconverted, and only if the original receipts are produced. So, it's best if travellers avoid buying more pesos than they're likely to need.
Major credit cards are accepted everywhere, but a commission is usually charged. Also, it's recommended that travellers use their credit cards at their hotels, as fraud incidents have been reported. The best exchange rates are paid on US dollars in cash, and are best exchanged at exchange bureaux (casas/agente de cambio).
Banking hours are Monday to Friday, 8.30am-4.30pm. Some banks also open on Saturdays. ATMs are widespread.
Currency Exchange Rates
Note: These currency exchange rates are not updated daily and should be used as a guideline only.