What type of money is used in the Dominican Republic?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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The official currency of the Dominican Republic is the Dominican Peso.  Within the Dominican Republic, the symbol for the peso is $.  Of course, that sign is used for other currencies.  In addition, there are many countries that used to be Spanish colonies and call their currency the peso.  Therefore, the currency can also be referred to using the symbol RD$.  The Dominican peso is divided into 100 centavos.

The Dominican Peso is, at current rates, worth much less than a US dollar.  One US dollar is worth about RD$39.  1 euro is worth about RD$50.