Exchange Currency
Dominican peso
The dominican peso, also called peso oro („gold peso”) is the currency of the Dominican Republic. Its symbol is ”$”, with ”RD$” used when distinction from other pesos (or dollars) is required; its ISO 4217 code is „DOP”. Each peso is divided into 100 centavos (cents), for which the ¢ symbol is used. It is the only currency which is legal tender for all monetary transactions, whether public or private, in the Dominican Republic.
In 1848 the circulation of $.05-, $.10- and $.25-U.S. cents was authorized, equal to half a real, one real and one peseta fuerte, respectively. These were put into circulation together with $1, $2 and $20-peso banknotes.
From 1877 to 1888, the „motas and níqueles” came into circulation. These 5-, 2½- and ¼-cent coins were considered some of our most interesting. Towards the end of the 19th century the famous „clavaos” came into use; they were rejected by the population because its face value was lower than its purported value.
Before the creation of the Central Bank of the Dominican Republic and during the first U. S. military occupation, monetary circulation was based on banknotes and gold coins from the United States and other countries, the remains of certain fiduciary coins from the former century, tokens from sugar cane mills and banknotes issued by municipalities. This situation existed until the beginning of Rafael Trujillo’s reign.
Law No. 1259 went into effect on February 21, 1937. It was responsible for creating the national currency and it contemplated a series of regulations on minting coins of all denominations, taking into consideration that they had to be minted following the same fashion as U. S. coins as far as elegance, weight, shape, dimensions and scale of units. This pattern was kept until 1975.
The first minting of coins was in the amount of RD$600,000.00 in denominations ranging from RD$0.01 to RD$0.50 cents. During this time, one peso coins were not minted since the U. S. banknote for that denomination was in circulation for a considerable time. The issuance of new coins was lauded, although they quickly became scarce due to the insufficient amounts minted.
Coins of the RD$1.00- and RD$5.00-peso denomination were issued by the Central Bank of the Dominican Republic according to the following Laws drafted by the Executive Branch.
The design and features of the RD$1.00-peso coins for national circulation were authorized on September 12, 1991, pursuant to Law No. 329-90.
The issuance and minting of the bi-metallic RD$5.00-peso coin was authorized on October 28, 1997 by Law No. 205-97. Their design and features were authorized via Law No. 460-97.
In addition to ordering the issuance of these banknotes, the State Council ordered the printing of fractional banknotes or “paper coins” in denominations of 50, 25 and 10 cents. The first edition of these fractional banknotes was printed at the Central Bank of the Dominican Republic in December 1961 the only time banknotes were printed in the country. The second edition of these fractional banknotes was printed in January 1962, by the American Bank Note Company in the US.
The second edition of national banknotes was printed in 1962. The banknotes were red, with a design similar to those of the first edition. Only the RD$1-peso banknote was issued in the years 1962-1964, with similar color to previous editions. The first- and second-edition of Dominican banknotes were withdrawn from circulation in 1967.
The third edition of banknotes was issued in 1966. These banknotes had a more modern design than past editions, using a different color and several hues for each denomination printed. One particular detail about these banknotes was that the signature of the Governor of the Central Bank of the Dominican Republic and the Secretary of State of Finance were printed in black ink, as well as the serial numbers of the banknotes. This edition was withdrawn from circulation in 1998.
The fourth edition of the banknotes, designed with the technological improvements of the times, was issued in 1977. The signatures were included in Intaglio printing and the mahogany flower, the national flower, was added to the banknotes. The first banknote issued under these parameters was the RD$100-peso banknote, until all seven denominations were included. This banknote issuance is currently in circulation together with the fifth edition, o new banknote family.
This new family of banknotes has several modifications which include changes in the emblem and other commemorative changes, as well as enhanced security features, in order to defeat counterfeits made by means of color copies and scans. The RD$5-peso banknote ceased to be issued in 1997, substituted by the RD$5-peso coin.
As designated by Articles 3 and 4 of Monetary Law No. 1528 dated October 9, 1947 and their amendment, a proposed law was presented to the Executive Power providing for a change in the design of the bank banknotes upon their fifth edition. The banknotes would additionally include the new $2000 peso denomination, commemorative of the new millennium. This was approved by means of law No. 212-99 dated May 13, 1999, which authorized the Central Bank of the Dominican Republic to make the proposed changes in the currency in circulation as of December 1999.
Moreover, other commemorative banknotes with images evoking important events have been issued and circulated throughout the Dominican Republic’s numismatic history. In 1955, the RD$20 peso banknote was issued with a theme alluding to the Era of Trujillo, with the phrase “Year of the Nation’s Benefactor”.
In 1977, to celebrate the Central Bank of the Dominican Republic’s 30th anniversary, the Monetary Board authorized the over stamping of circulating banknotes, which was done within the bank’s own printing press. These banknotes were given to notables, bank officers, and numismatists as gifts.
In 1992, numismatic technicians from the Central Bank of the Dominican Republic proposed the printing and subsequent circulation of a series of banknotes commemorating the Quincentennial of the Discovery and Evangelization of the Americas. The first banknote issued within this series was the RD$500 peso banknote, which was the only one designed entirely by Dominicans. Later, other RD$1000, RD$500 and RD$20-peso banknotes were issued, but these only included inscriptions allusive to this celebration.
Summary info
Summary information about Dominican peso- ISO 4217 Code:
- DOP
- Currency sign:
- RD$
- Country:
- Dominican Republic
- Subunit:
- centavo
- Coins:
- 1 peso oro, 5 pesos oro, 10 pesos oro, 25 pesos oro
- Banknotes:
- 20 pesos oro, 50 pesos oro, 100 pesos oro, 200 pesos oro, 500 pesos oro, 1000 pesos oro, 2000 pesos oro
- Central bank:
- Central Bank of the Dominican Republic
History
The first Dominican peso was introduced with the country’s independence from Haiti in 1844. It replaced the Haitian gourde at par and was divided into 8 reales. The Dominican Republic decimalized in 1877, subdividing the peso into 100 centavos. A second currency, the franco, was issued between 1891 and 1897 but did not replace the peso. However, in 1905, the peso was replaced by the U.S. dollar, at a rate of 5 pesos to the dollar. The peso oro was introduced in 1937 at par with the U.S. dollar, although the dollar continued to be used alongside the peso oro until 1947.Coins
After the declaration of Independence in 1844, the first Dominican coins appeared in denominations in the form of the quarter, or real, minted by the Scoville Manufacturing Company of the United States. These coins were widely known as „cuartillos”.In 1848 the circulation of $.05-, $.10- and $.25-U.S. cents was authorized, equal to half a real, one real and one peseta fuerte, respectively. These were put into circulation together with $1, $2 and $20-peso banknotes.
From 1877 to 1888, the „motas and níqueles” came into circulation. These 5-, 2½- and ¼-cent coins were considered some of our most interesting. Towards the end of the 19th century the famous „clavaos” came into use; they were rejected by the population because its face value was lower than its purported value.
Before the creation of the Central Bank of the Dominican Republic and during the first U. S. military occupation, monetary circulation was based on banknotes and gold coins from the United States and other countries, the remains of certain fiduciary coins from the former century, tokens from sugar cane mills and banknotes issued by municipalities. This situation existed until the beginning of Rafael Trujillo’s reign.
Law No. 1259 went into effect on February 21, 1937. It was responsible for creating the national currency and it contemplated a series of regulations on minting coins of all denominations, taking into consideration that they had to be minted following the same fashion as U. S. coins as far as elegance, weight, shape, dimensions and scale of units. This pattern was kept until 1975.
The first minting of coins was in the amount of RD$600,000.00 in denominations ranging from RD$0.01 to RD$0.50 cents. During this time, one peso coins were not minted since the U. S. banknote for that denomination was in circulation for a considerable time. The issuance of new coins was lauded, although they quickly became scarce due to the insufficient amounts minted.
Coins of the RD$1.00- and RD$5.00-peso denomination were issued by the Central Bank of the Dominican Republic according to the following Laws drafted by the Executive Branch.
The design and features of the RD$1.00-peso coins for national circulation were authorized on September 12, 1991, pursuant to Law No. 329-90.
The issuance and minting of the bi-metallic RD$5.00-peso coin was authorized on October 28, 1997 by Law No. 205-97. Their design and features were authorized via Law No. 460-97.
Banknotes
The first national banknotes were issued in denominations of RD$1 peso, RD$5 pesos and RD$10 pesos. They followed a design similar to US dollar banknotes, insofar as size and features are concerned, and were printed by the American Bank Note Company beginning in 1947.In addition to ordering the issuance of these banknotes, the State Council ordered the printing of fractional banknotes or “paper coins” in denominations of 50, 25 and 10 cents. The first edition of these fractional banknotes was printed at the Central Bank of the Dominican Republic in December 1961 the only time banknotes were printed in the country. The second edition of these fractional banknotes was printed in January 1962, by the American Bank Note Company in the US.
The second edition of national banknotes was printed in 1962. The banknotes were red, with a design similar to those of the first edition. Only the RD$1-peso banknote was issued in the years 1962-1964, with similar color to previous editions. The first- and second-edition of Dominican banknotes were withdrawn from circulation in 1967.
The third edition of banknotes was issued in 1966. These banknotes had a more modern design than past editions, using a different color and several hues for each denomination printed. One particular detail about these banknotes was that the signature of the Governor of the Central Bank of the Dominican Republic and the Secretary of State of Finance were printed in black ink, as well as the serial numbers of the banknotes. This edition was withdrawn from circulation in 1998.
The fourth edition of the banknotes, designed with the technological improvements of the times, was issued in 1977. The signatures were included in Intaglio printing and the mahogany flower, the national flower, was added to the banknotes. The first banknote issued under these parameters was the RD$100-peso banknote, until all seven denominations were included. This banknote issuance is currently in circulation together with the fifth edition, o new banknote family.
This new family of banknotes has several modifications which include changes in the emblem and other commemorative changes, as well as enhanced security features, in order to defeat counterfeits made by means of color copies and scans. The RD$5-peso banknote ceased to be issued in 1997, substituted by the RD$5-peso coin.
As designated by Articles 3 and 4 of Monetary Law No. 1528 dated October 9, 1947 and their amendment, a proposed law was presented to the Executive Power providing for a change in the design of the bank banknotes upon their fifth edition. The banknotes would additionally include the new $2000 peso denomination, commemorative of the new millennium. This was approved by means of law No. 212-99 dated May 13, 1999, which authorized the Central Bank of the Dominican Republic to make the proposed changes in the currency in circulation as of December 1999.
Moreover, other commemorative banknotes with images evoking important events have been issued and circulated throughout the Dominican Republic’s numismatic history. In 1955, the RD$20 peso banknote was issued with a theme alluding to the Era of Trujillo, with the phrase “Year of the Nation’s Benefactor”.
In 1977, to celebrate the Central Bank of the Dominican Republic’s 30th anniversary, the Monetary Board authorized the over stamping of circulating banknotes, which was done within the bank’s own printing press. These banknotes were given to notables, bank officers, and numismatists as gifts.
In 1992, numismatic technicians from the Central Bank of the Dominican Republic proposed the printing and subsequent circulation of a series of banknotes commemorating the Quincentennial of the Discovery and Evangelization of the Americas. The first banknote issued within this series was the RD$500 peso banknote, which was the only one designed entirely by Dominicans. Later, other RD$1000, RD$500 and RD$20-peso banknotes were issued, but these only included inscriptions allusive to this celebration.
DOP banknotes pictures gallery
| 20 Dominican pesos | |
|---|---|
| Banknote of 20 Dominican pesos has dimensions 156×67 mm and main colors are light taupe, pale gold, banana mania and peach-yellow. | |
 Obverse side of the 20 Dominican pesos is showing the portrait of General Gregorio Luperon located at the right hand side of the banknote, looking toward the left. |
 Reverse side of the 20 Dominican pesos is showing the National Pantheon, in a three-quarter view toward the right side. |
| 50 Dominican pesos | |
|---|---|
| Banknote of 50 Dominican pesos has dimensions 156×67 mm and main colors are pastel purple, desert sand, dim gray and silver. | |
 Obverse side of the 50 Dominican pesos is showing the First Cathedral of the Americas, Santa Maria de la Encarnacion, located on the right-hand side of the banknote. |
 Reverse side of the 50 Dominican pesos is showing the Our Lady of High Grace Basilica, toward the left-hand side of the banknote. |
| 100 Dominican pesos | |
|---|---|
| Banknote of 100 Dominican pesos has dimensions 156×67 mm and main colors are timberwolf, raw umber, light taupe and pale goldenrod. | |
 Obverse side of the 100 Dominican pesos is showing the three Fathers of the Nation: Juan Pablo Duarte, Francisco del Rosario Sanchez and Matias Ramon Mella. Sanchez on the left, Duarte in the middle and Mella on the right. |
 Reverse side of the 100 Dominican pesos is showing the front facade of La Puerta del Conde, occupying the left half of the banknote with a three quarter turn to the left. |
| 200 Dominican pesos | |
|---|---|
| Banknote of 200 Dominican pesos has dimensions 156×67 mm and main colors are pale chestnut, old lavender, grullo, platinum and languid lavender. | |
 Obverse side of the 200 Dominican pesos is showing the portrait of Hermanas Mirabal |
 Reverse side of the 200 Dominican pesos is showing a Monument of the Hermanas Mirabal |
| 500 Dominican pesos | |
|---|---|
| Banknote of 500 Dominican pesos has dimensions 156×67 mm and main colors are raw umber, desert sand, champagne, pastel gray and pale goldenrod. | |
 Obverse side of the 500 Dominican pesos is showing Engraved effigies of Salome Urena de Henriquez, in three-quarter view toward the right, and Pedro Henriquez Urena in three-quarter view toward the left. Both images are located on the right half of the banknote. |
 Reverse side of the 500 Dominican pesos is showing the lateral facade of Central Bank of the Dominican Republic’s headquarters and the front facade of the Central Bank of the Dominican Republic’s Auditorium, both on the left half of the banknote. |
| 1000 Dominican pesos | |
|---|---|
| Banknote of 1000 Dominican pesos has dimensions 156×67 mm and main colors are tea rose, indian red, beaver and burlywood. | |
 Obverse side of the 1000 Dominican pesos is showing the front facade of the National Palace, with its entrance steps and gardens, located on the right-hand side of the banknote. |
 Reverse side of the 1000 Dominican pesos is showing the front facade of Alcazar de Don Diego Colon, located on the left-hand side of the banknote. |
| 2000 Dominican pesos | |
|---|---|
| Banknote of 2000 Dominican pesos has dimensions 156×67 mm and main colors are almond, light khaki, manatee and pastel gray. | |
 Obverse side of the 2000 Dominican pesos is showing the portrait of José Reyes, facing forward and looking towards the right-hand side of the banknote, and Emilio Prud’Homme, in profile and looking towards the left-hand side of the banknote. |
 Reverse side of the 2000 Dominican pesos is showing the front facade of the National Theater, on the left half of the banknote and angled toward the right-hand side of the banknote. |
Useful links
- About Central Bank of the Dominican Republic:
- Central Bank of the Dominican Republic
- List of currencies:
- Currencies
- Security and design features of DOP banknotes:
- DOP banknotes
- DOP currency on Wikipedia:
- Dominican peso
- Official Website of Central Bank of the Dominican Republic:
- www.bancentral.gov.do
- Commemorative coins:
- Commemorative Coins