Dominican Peso - DOP
The Dominican Peso (DOP) is the official currency in the Dominican Republic. The symbol for the Peso is $. To distinguish between the US Dollar and the Peso the symbol RD$ is used. The subdivision for the Peso is centavos; 1 peso = 100 centavos.
- The Dominican Republic’s economy is rated 2nd in the Caribbean.
- Tourism and agriculture play an important role in the economy.
- The tourism industry contributed more than 1 billion USD a year. Recently industry overtook agriculture.
- The main industries are textiles, cement, gold mining, tobacco, tourism, and sugar processing.
- Export products are meats, gold, sugar, silver, ferronickel, consumer goods, coffee, tobacco, and cocoa.
- Import products are fabrics and cotton, chemicals, petroleum, foodstuffs, and pharmaceuticals.
- Inflation is estimated at 6.3% and unemployment at 14.2%.
- The country trades mainly with the USA and is a free-trade zone.
- The Peso was introduced in 1844 after the country gained independence from Haiti.
- In 1877, the Peso was subdivided into centavos.
- A second currency called the Franco was introduced to the Dominican Republic from 1891 to 1897 and was used as an additional currency.
- In 1905, the US Dollar replaced the Peso at 5 Pesos = 1 USD.
- In 1937, the Peso Oro was distributed and was used along with the Dollar until 1947.
- In 1947, the first Peso banknotes were printed and distributed by the Central Bank.
- In 1961, the banknotes were extended to the lower Peso Oro notes.
- Since 1992, limited editions of the 2000 and 500 Peso Oro notes have been issued. In 2010 the 20 Peso polymer note was issued.
Symbols and Names
- Symbols: RD$
- Nicknames: none
- Centavo = 1/100 of a Peso
- Bills: $20, $50, $100, $200, $500, $1,000, $2,000
- Coins: $1, $5, $10, $25
Countries Using This Currency
Currencies Pegged To DOP