{"id":1200,"date":"2007-02-02T17:30:22","date_gmt":"2007-02-02T13:30:22","guid":{"rendered":"http:\/\/www.dominicana-online.org\/?p=1200"},"modified":"2018-05-18T18:31:29","modified_gmt":"2018-05-18T18:31:29","slug":"moneda","status":"publish","type":"page","link":"https:\/\/www.dominicanaonline.org\/en\/republica-dominicana\/moneda\/","title":{"rendered":"Currency"},"content":{"rendered":"

The\u00a0official currency of the Dominican Republic is the Dominican peso, which is equal to 100 centavos. It\u2019s symbol is “RD$”, and its ISO code is “DOP”.\u00a0Bills of 1000, 500, 100, 50, 20, 10, 5 and 1 pesos are issued, as well as 1 peso coins and 50, 25, 10, 5 and 1 centavo coins.\u00a0<\/span><\/p>\n

\"\"<\/a>The Dominican Republic Central Bank, created October 9, 1947, is the sole organization in charge of issuing bills and coins in Dominican territory.<\/p>\n

History of currency<\/b><\/h2>\n

The step toward the use of an official currency was delayed in a country that, from the foundation of its\u00a0<\/span>first city, developed with all types of economic and social setbacks and overbearing foreign associations.\u00a0<\/span><\/p>\n

It was after the declaration of the Independence of 1844 that the first\u00a0Dominican currency appeared, in\u00a0<\/span>the denomination of a quarter of a real. The Scoville Manufacturing Company of the United States\u00a0minted the coins; they were commonly called “cuartillos”.<\/p>\n

1848\u00a0<\/b>\u2013<\/b>\u00a0C<\/b>irculation of US coins
\n<\/b>In 1848, the circulation of U.S. coins of 5, 10 and 25 cents was allowed, as they were the equivalent of a half real, one real and the peseta\u00a0fuerte, which circulated together with bills of 1, 2 and 20 pesos.\u00a0<\/span><\/p>\n

1877 –\u00a0<\/b>“<\/b>Motas<\/b>\u00a0y\u00a0<\/b>n\u00edqueles<\/b>\u201d and<\/b>\u00a0“<\/b>clavaos<\/b>“<\/b>\u00a0coins emerge
\n<\/b>Between 1877 and 1888, the “motas\u00a0y\u00a0n\u00edqueles”, coins of 5, 2 \u00bd and \u00bc centavos emerged. Around the end of the 19th century, “clavaos” appeared and were rejected by the population as their face value was less than their actual value\u00a0<\/span><\/p>\n

1937\u00a0<\/b>\u2013<\/b>\u00a0Cr<\/b>eation of a national currency
\n<\/b>On February 21, 2937, Law No. 1259 was passed. It is considered the creator of the national currency, a series of rules to regulate the minting of coins of all denominations\u00a0<\/span><\/p>\n

1997\u00a0<\/b>\u2013<\/b>\u00a0Au<\/b>thorization of the issuance and circulation of bi-metallic coins
\n<\/b>On October 28, 1997, by Law No. 205-97, the issuance and minting of nationally circulating bi-metallic coins for DR$5.00 were authorized; and their design and characteristics were approved by Decree 460-97.\u00a0<\/span><\/p>\n

2006 \u2013 Issuance and circulation of new coins
\n<\/b>In 2006, the Central Bank put new bills of\u00a0RD$10.00 y RD$25.00,\u00a0continuing the scale of one, five, ten, twenty-five and fifty.<\/p>\n

Bills<\/b><\/h2>\n

First issuance of national bills
\n<\/b>The first issuance of national bills, made by the American Bank Note Company, took place in 1947.\u00a0Bills, with a similar design to the US dollar, were circulated in denominations of\u00a0RD$1, RD$5 y RD$10.\u00a0\u00a0<\/span><\/p>\n

\"\"<\/a>Second and third issuance of national bills
\n<\/b>In 1962 the second issuance of national bills, this time in red and with a design similar to the previous issuance, took place.\u00a0Later on, in 1966 is when the bill\u00a0style was modernized and a distinct color was used for each denomination.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n

Fourth and fifth issuance of national bills
\n<\/b>The fourth and fifth issuance of national bills took place in 1977 and 1999, respectively.\u00a0These issuances incorporated the most advanced technologies of the time and added the\u00a0Caoba\u00a0flower within its new designs.\u00a0The fifth issuance of bills incorporated the denomination of\u00a0RD$2, 000\u00a0in commemoration of the new millennium.\u00a0\u00a0<\/span><\/p>\n

Sixth issuance of national bills
\n<\/b>In 2014, the sixth and most recent\u00a0issuance of national bills in denominations of\u00a0 50, 100, 200, 500, 1,000 and\u00a02,000 pesos\u00a0was carried out.\u00a0This new version of bills incorporated the Rosa de\u00a0Bayah\u00edbe\u00a0declared\u00a0the National Flower, in place of the\u00a0Caoba\u00a0flower. Moreover, the bills incorporated much more rigorous security measures and their design possessed more differentiated\u00a0colors in order to\u00a0avoid confusion.<\/p>\n

References:<\/span>
\nhttp:\/\/www.bancentral.gov.do\/billetes_monedas\/
\n<\/a>http:\/\/www.bancentral.gov.do\/billetes_monedas\/circulacion_billetes.html<\/a>\u00a0<\/span>
\nhttp:\/\/www.bancentral.gov.do\/billetes_monedas\/historia_billetes.html<\/a>\u00a0\u00a0<\/span><\/p>\n

Photo gallery of bills in circulation:<\/span>
\nhttp:\/\/www.bancentral.gov.do\/billetes_monedas\/circulacion_billetes_5ta.html<\/a>\u00a0<\/span><\/p>","protected":false},"excerpt":{"rendered":"

The\u00a0official currency of the Dominican Republic is the Dominican peso, which is equal to 100 centavos. It\u2019s symbol is “RD$”, and its ISO code is “DOP”.\u00a0Bills of 1000, 500, 100, 50, 20, 10, 5 and 1 pesos are issued, as well as 1 peso coins and 50, 25, 10, 5 and 1 centavo coins.\u00a0 The … Continue reading “Currency”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1520,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-1200","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/pages\/1200"}],"collection":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/comments?post=1200"}],"version-history":[{"count":12,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/pages\/1200\/revisions"}],"predecessor-version":[{"id":10478,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/pages\/1200\/revisions\/10478"}],"up":[{"embeddable":true,"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/pages\/1520"}],"wp:attachment":[{"href":"https:\/\/www.dominicanaonline.org\/en\/wp-json\/wp\/v2\/media?parent=1200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}