Central Bank issues new bill
The Central Bank announces it will be putting a new RD$20 note into circulation as of 1 July. The bill is printed on polymer material said to enhance the money's durability. The new material also includes many security features that make counterfeiting much more difficult than with the previous paper money. In addition to enhanced security and durability, the bill is also said to be cleaner than the previous RD$20 bill (pictured left) that had been discontinued. Dominican currency is available in coins of 1, 5, 10 and 25 pesos, and bills of 50, 100, 200, 500, 1,000 and 2,000 pesos.
On writing this blog, I'm reminded that when I first visited the Dominican Republic about 13 years ago, the rate of exchange for the British pound was around 20 pesos, which made conversion very easy. At its height, the pound brought in over 80 pesos, and now it has settled somewhere in the middle, with an exchange rate of around around 55 pesos to the pound. The US dollar rate is currently just under 37 pesos to the US$.
The West Indies Real Estate website has the facility to search property prices in US dollars, Canadian dollars, Euros, and UK sterling.