Dominican peso facts for kids

Kids Encyclopedia Facts

The Dominican peso is the money of the Dominican Republic. Its official name is Peso oro and its symbol is "$" with RD in front of it (RD$) to differentiate it from other pesos or dollars. The ISO 4217 for the Dominican peso is DOP. Each peso is divided into 100 centavos (English, "cents").

History

The first Dominican peso was introduced in 1844. It replaced the Haitian money. In 1905, the peso was replaced by United States currency. The peso oro was introduced in 1937, although the US dollar continued to be used alongside the peso oro until 1947.

Coins were introduced in 1937 in denominations of 1, 5, 10, 25 and 50 centavos. Since 1991, coins of denominations 1, 5, 10 and 25 pesos have been introduced. However, due to inflation, coins below 1 peso are now rarely found. Banknotes in use are 10, 20, 50, 100, 500, 1000 and 2000 pesos.

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Dominican peso Facts for Kids. Kiddle Encyclopedia.