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Dominican Republic Banking & Taxes

      A WorldWeb.com Travel Guide to Banking & Taxes in Dominican Republic, Caribbean.
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Currency and Banking in the Dominican Republic
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CURRENCY

The local currency is the Dominican Peso (RD$), which is broken down into 100 centavos. Coins come in 1, 5, 10, 25, 50, 1 and 5 denominations, while notes are issued in 10, 20, 50, 100, 500 and 1000 peso denominations. Many businesses also accept US Dollars.

TAX

There is a 12-16% tax on most food, goods and services, and accommodation. For current exchange rate, see the see the currency converter under the Trip Planning section on the Caribbean home page.

TIPPING

Many hotels and restaurants add a 10% service charge to the bill. Hotel staff like porters and bellmen generally recieve $1 per day. All-inclusive resorts don't expect to be tipped. Taxi drivers have come to expect 10% of the fare.

TRAVELLER'S CHEQUES

Traveler's cheques are accepted throughout the country.

CREDIT CARDS

Most major credit cards are accepted at most hotels, large stores, and restaurants.

BANKING HOURS AND AUTOMATED TELLERS

Banks hours are Monday through Friday from 8:30am to 4:30pm.


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