| Dominican Peso |
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The Dominican peso (symbol RD$) is the official currency of the Dominican Republic . OVERVIEW The Dominican peso has been the official currency of the Dominican Republic since 1948 . The ISO 4217 code for the Dominican peso is DOP. This reference is also used by the International Monetary Fund . It is the only currency with Legal Tender for all monetary, whether public or private transactions in the Dominican Republic. RELATION WITH THE U.S. DOLLAR The U.S. dollar is used as a Reserve Currency by the Dominican Central Bank . Also, when convened by both parties, both U.S. dollars and the Euro can be used in private transactions (this applies mostly in tourism-related activities). This was most true during the drastic inflational period of 2003-2004, locally referred as ''El Huracán Mejía'' (The Hurricane Mejía). EXCHANGE RATE |