The Dominican peso is the currency of the Dominican Republic. Its symbol is "$", with "RD$" used when distinction from other pesos (or dollars) is required. Each peso is divided into 100 centavos ("cents"), for which the ¢ symbol is used. It is the only currency which is legal tender for all monetary transactions, whether public or private, in the Dominican Republic.
The first Dominican peso was introduced with the country's independence from Haiti in 1844. It replaced the Haitian gourde at par and was divided into 8 reales. The Dominican Republic decimalized in 1877, subdividing the peso into 100 centavos. A second currency, the franco, was issued between 1891 and 1897 but did not replace the peso. However, in 1905, the peso was replaced by the U.S. dollar, at a rate of 5 pesos to the dollar. The peso oro was introduced in 1937 at par with the U.S. dollar, although the dollar continued to be used alongside the peso oro until 1947.
The United States dollar is used as a reserve currency by the Central Bank of the Dominican Republic.
Also, when convened by both parties, both U.S. dollars and the euro can
be used in private transactions (this applies mostly in tourism-related
activities). This was most true during the drastic inflationary period
of 2003–2004.
This banknote is no longer in circulation.
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Obverse: Matías Ramón Mella
Reverse: Altar
de la Patria, or The Altar of the Homeland, is a white marble mausoleum
in Santo Domingo, Dominican Republic that houses the remains of the
founding fathers of the Dominican Republic: Juan Pablo Duarte, Francisco
del Rosario Sánchez, and Ramón Matías Mella, collectively known as Los
Trinitarios.
