The Dominican Republic Peso is the official currency of the Dominican Republic. The Peso is subdivided into 100 centavos and is denoted by the symbol “RD$”. The Peso was introduced in 1937, replacing the Dominican Republic’s second currency, the Haitian Gourde. The Peso is pegged to the US Dollar at a rate of 1 US Dollar = RD$45.37.
The Dominican Republic has a long history with the US Dollar, dating back to the country’s time as a US protectorate. In 1844, the Dominican Republic began using the US Dollar as its official currency, and this continued until 1846 when the country switched to the Haitian Gourde. After gaining independence from Haiti in 1844, the Dominican Republic once again began using the US Dollar as its official currency.
The Dominican Republic Peso is a strong currency, and has been relatively stable against the US Dollar over the past few years. The Peso is a popular currency for tourists visiting the Dominican Republic, as it is easy to exchange and is widely accepted by businesses.