Dominican peso
Worldwide use:
- Dominican Republic
Description:
The official currency of the Dominican Republic is the Dominican Peso. One Dominican Peso is worth 100 Dominican Centavos. Coins come in 1, 5, 10 and 25 Pesos. Banknotes are issued in 20, 50, 100, 200 and 500 Pesos.
All Dominican Peso banknotes show the following words: "Este billete tiene fuerza libertoria para el pago de todas las obligaciónes públicas o privadas," which means "This bill has the liberatory strength to be used as payment for all public or private obligations." As of 2011, all new banknotes were issued in "Pesos Dominicanos" instead of "Peso Oros."
Origin:
The Dominican Peso currency was first established in 1844 when the Dominican Republic became independent of Haiti which used the Haitian Gourde. Then, in 1891, a secondary currency was introduced, the Franco, which sat alongside the Dominican Peso until 1897. In 1905, the US Dollar was established as the country’s only official currency until 1937 when the current Dominican Peso Oro was used alongside the US Dollar until 1947 when use of the US Dollar was phased out. Initially Peso Oro banknotes were not produced, but when the US Dollar banknotes were no longer available, the first Peso Oro notes were circulated.
Component units:
- Centavo (100)
Date introduced:
- 1844
Central bank:
- Central Bank of the Dominican Republic
Printer:
Mint:
