Dominican Peso
Peso dominicano
Currency Code
DOP
ISO 214
Symbol
DOP
Native: $
Decimal Digits
2
Rounding: 0
Countries
DO
Using this currency
Currency Units
Major Unit
Name: peso
Symbol: $
Minor Unit
Name: centavo
Symbol:
Value: 0.01
Banknotes
Frequently Used
$20$50$100$200$500$1000$2000
Coins
Frequently Used
$1$5$10$25
Plural Forms
English Plural
Dominican pesos
Native Plural
Pesos dominicanos
Overview
The Dominican Peso is the currency of the Dominican Republic, managed by the Central Bank of the Dominican Republic. It has been free-floating since 1985 and serves the country's tourism and manufacturing economy in the Caribbean.
Economy
- Dominican Republic is a member of OAS, SICA, CELAC, ACS.
- Main industries include: Tourism, Sugar processing, Ferronickel, Textiles, Cement, Tobacco, Electrical components, Medical devices.
- Dominican Republic is part of the World Trade Organization.
- Imports are petroleum, foodstuffs, cotton and fabrics, chemicals, pharmaceuticals.
- Major exports include gold, silver, cocoa, sugar, coffee, tobacco, meats, consumer goods.
- GDP: $113.0 billion (2023 est.).
- GDP per capita: $10,330 (2023 est.).
- Unemployment rate: 5.6% (2023 est.).
- Inflation rate: 7.8% (2023 est.).
- Main trading partners: United States, Haiti, Canada, China, Mexico, Brazil.
- Trade agreements: CAFTA-DR, EPA with EU, Various bilateral agreements.
History
- Previous currencies used: Haitian gourde, US dollar (1905-1940), Peso oro.
- The peso was introduced in 1844 after independence from Haiti. It has undergone several reforms and has been the country's currency throughout most of its independent history.
- 1844: Peso introduced after independence from Haiti
- 1905-1940: US dollar used during American occupation
- 1947: Central Bank established
- 1985: Adoption of floating exchange rate
- 2003: Banking crisis and significant peso devaluation
- 2020: COVID-19 pandemic impact on tourism
- Exchange rate peg: USD (1947-1985) various rates.
- Exchange rate peg: Free floating (1985-present).
General Information
- ISO 4217 Code: DOP
- Symbols: DOP/$
- Currency Subunits: 100 centavos
- Central Bank: Central Bank of the Dominican Republic
- Monetary Policy: Inflation targeting with managed floating exchange rate. Focus on price stability and supporting economic growth, particularly tourism sector.
- Bills: 50 DOP, 100 DOP, 200 DOP, 500 DOP, 1000 DOP, 2000 DOP
- Coins: 1 peso, 5 pesos, 10 pesos, 25 pesos
- USD Exchange Rate: Variable (approximately 57-58 DOP per USD)
- Pegged To: None (Floating)
- Capital: Santo Domingo
- Population: 10,790,744 (2023 est.)
- Area: 48,670 km²
- Languages: Spanish (official), English
- Time Zones: UTC-4 (Atlantic Standard Time)
- Government Type: Presidential republic
- Head of Government: President (head of state and government)
- Independence: February 27, 1844 (from Haiti)
- Ethnic Groups: Mixed 70.4%, European 17.8%, African 7.8%, Other 4%
- Religions: Roman Catholic 44.3%, Evangelical 13%, Adventist 1.4%, Other Christian 7.4%, Jehovah's Witnesses 1.2%, Other 0.3%, None 29.4%, Unspecified 3%
- Literacy Rate: 93.8% (2016 est.)
- Transport: Las Américas International Airport, good road networks, limited rail, major Caribbean ports
- Communications: Good telecommunications, 85% internet penetration, wide mobile coverage
- Energy: Natural gas 24%, Coal 23%, Oil 20%, Hydroelectric 16%, Solar 9%, Wind 8%
- Countries Using This Currency: Dominican Republic
- Data Sources: Central Bank: Central Bank of the Dominican Republic (bancentral.gov.do), Economic Data: National Office of Statistics Dominican Republic, World Bank, IMF, Trade Data: General Directorate of Customs, Demographic Data: National Office of Statistics Dominican Republic, Geographic Data: National Meteorological Office, Historical Data: Central Bank archives
- Last Updated: 2025