Timeline

• 27.07.1844
• Decree [No. 15] of the Provisional Government ("Junta Central Gubernativa") on the payment of tariffs in "national currency"; effective 01.08.1844
• 17.08.1844
• Decree [No. 16] of the Provisional Government ("Junta Central Gubernativa") on the authorizing private companies to issue paper money in "national currency"; effective 01.10.1844 but not implemented
• 29.08.1844
• Decree [No. 18] of the Provisional Government ("Junta Central Gubernativa") on the issuance of (unbacked) debt certificates for the collection of Haitian paper money; effective immediately:
  - The initial amount was 150'000 Pesos "national currency".
• Dec 1844
• Production of subsidiary coins of ¼ Real to the amount of 50'000 Pesos in the United States (mint not known)
• 02.07.1847
• Law [No. 116] on the revaluation of the public debt and the issuance of new debt certificates; effective immediately
  - Previous debt certificates were amortized at a rate of 80 Pesos (paper) = 1 Peso (gold) or could be exchanged into new certificates at a rate of 1 : 5.
• 15.06.1848
• Law [No. 145] on the creation of a national currency in a bimetallic standard; effective immediately:
  - The foreseen gold coins of 10, 5 Pesos and silver coins of 1 Peso, 20, 10, 5, 2½ Cents were not issued.
  - The earlier copper coin of ¼ Real was produced further to circulate as ½ Cent.
  - 23.07.1849: Issuance of paper money of 5, 2, 1 Pesos.
  - 19.05.1853: Overprints of the 1849 paper money with new face values of 40, 20 Pesos.
• 20.06.1848
• Law [No. 146] on the money circulation; effective immediately:
  - Import of US coins of 25, 10, 5 Cents (up to 100'000 Pesos) to circulate as 20, 10, 5 Cents national currency
  - Issuance of paper money of 2, 1 Pesos (with 40% silver backing) to replace the circulating paper money at 1 : 4 until 31.12.1848.
  - Further paper money was issued based on law [No. 198] of 23.07.1849 and law [No. 204] of 20.09.1849.
• 09.03.1858
• Decree [No. 531] on the switch to the silver standard based on the "Peso Fuerte" (without weight specification, but likely to correspond to the Mexican Peso); effective immediately.
• 17.07.1869
• Decree [No. 1151] on the ratification of a concession for the New York based businessmen E. Prime Jr. and E.P. Hollister of 04.07.1869 for the establishment of the (first) National Bank of Santo Domingo" as commercial bank with issuance privilege for paper money; effective upon constitution of the bank on 01.01.1870.
  - The bank defaulted in May 1870, the concession was revoked by decree [No. 1182] of 15.10.1870, and the issued paper money was declared worthless.
• 28.08.1877
• Decree [No. 1626] on the issuance of a subsidiary coin of 1 Cent to the amount of 10'000 Pesos; effective immediately.
  - Additional nickel subsidiary coins of 5, 2½ Cents dated 1877 were issued by resolution [No. 1819] of 11.12.1879.
  - Additional nickel subsidiary coins of 1¼ Cents dated 1882 were issued by resolution [No. 2000] of 11.12.1879, put into circulation by resolutions [No. 2093, 2094] of 06.12.1882.
  - Additional nickel subsidiary coins of 2½, 1¼ Cents dated 1888 were issued by decree [No. 2588] of 27.09.1887.
• 14.05.1879
• Government resolution [No. 1626] on the rating of foreign gold and silver coins:
  - Gold: 20 US Dollar) = 21 Dominican Pesos; 20 Mexican Pesos = 20 Dominican Pesos; 8 Latin American Escudos = 16.50 Dominican Pesos; 20 French Francs = 4 Dominican Pesos; British Sovereign = 5 Dominican Pesos.
  - Silver: Mexican (New) Peso = 0.90 Dominican Peso; 5 French Francs = 5 Dominican Pesos.
• 05.04.1884
• Government resolution [No. 2208] on an import ban for underweighted and damaged foreign silver coins; effective immediately
• 08.02.1886
• Decision [No. 924] on an import ban for any foreign silver coins except Mexican and Venezuelan; effective immediately
• 14.08.1889
• Decree [No. 2812] on the ratification of a concession for the French bank "Crédit Mobilier de Paris" of 26.07.1889 for the establishment of the (2nd) National Bank of Santo Domingo" as commercial bank with issuance privilege for paper money; effective upon constitution of the bank on ??.??.1889.
  - In March 1895, after a diplomatic incident between France and the Dominican Republic, the concession was purchased by the New York based "San Domingo Improvement Company" for 50'000 Mexican Pesos.
  - The (third) National Bank defaulted in mid-1899, and the concession was returned to the Dominican state in the "January Protocol (Protocolo de Enero)" of 31.01.1903.
  - Dated 31.01.1912, the National Bank produced paper money in US American currency, which did not get issued. During 1914, the National Bank terminated operations.

Valuation Regimes

• 1848-1858
• Metallic currency based on circulating gold and silver coins, no specie coins were issued. Base weight was the English troy pound / 12 ounces / 480 grains at 373.242 grams.
• 1858-1890
• Metallic currency based on circulating "Peso Fuerte" silver coins.

Timeline

• 14.08.1889
• Law [No. 2811] on the (attempted) switch to the French bimetallic standard with a currency unit "Domincano" at a rate of 1 Dominicano = 0.75 French Francs; not implemented and revoked on 16.07.1890
• 16.07.1890
• Law [No. 2939] on the switch to the French bimetallic standard; effective immediately.
  - 06.08.1891: Decree [No. 3087] on the start of circulation of the silver coins of 5, 1, 0.50 Francs and bronze coins of 10, 5 Cents at a rate of 1 Mexican Peso = 5 Dominican Francs (which was also applied to the earlier national subsidiary coins); effective 01.09.1891.
  - 28.12.1891: Decree [No. 3110] on the demonetization of the Mexican silver coins and earlier national subsidiary coins (afterwards, the silver coins were to be rated at 1.25 Mexican Pesos = 5 Dominican Francs); effective 31.01.1892.
  - 12.07.1892: Resolution [No. 3223] on the withdrawal of the new subsidiary coinage due to lack of acceptance; effective immediately of 10, 5 Cents in bronze as they were not accepted in the market (two attempts at re-introducing subsidiary coins of 2½, 1¼ Cents in nickel, decree [No. 3292] of 09.06.1893, and bronze of 5, 2½ Cents, decree [No. 3378] of 16.01.1894, both failed).

Valuation Regimes

• 1891-1894
• Metallic currency based on circulating gold and silver coins, no specie coins were issued.

Timeline

• 28.04.1894
• Law [No. 3400] on the (attempted) switch to the US American gold standard; effective immediately but not implemented:
  - 09.05.1894: Decree [No. 3406] on the production of Dominican gold and silver coins; effective immediately but not implemented.
  - 04.12.1894: Resolution [No. 3476] on the continued acceptance of the earlier national silver coins at face value.
• 05.05.1897
• Decree [No. 3725] on the production of silver coins denominated in Peso to complement the circulating coins denominated in Franc; effective immediately:
  - Rating of foreign gold coins: 20 US Dollars = 40 Dominican Pesos; 20 French Francs = 7.50 Dominican Pesos; British Sovereign = 9.50 Dominican Pesos.

Valuation Regimes

• 1894-1900
• Fixed rate against US Dollar.

Timeline

• 09.12.1899
• Decree [No. 3940] on the withdrawal of the national banknotes and coins and exchange into US currency; effective 01.03.1900.
  - The earlier coins were not demonetized and remained current (by decree [No. 3999] of 02.06.1900) at 5 Dominican Francs (1891) = 0.40 US Dollar; 1 Dominican Peso (1897) = 0.20 US Dollar; the subsidiary coins of 2½ Cents (before 1890) and 10 Cents (1891) were rated at ½ US Cent.
  - The paper money of the "National Bank of Santo Domingo" was rated at 6 Dominican Pesos = 1 US Dollar.
• 21.06.1905
• Resolution [No. 4579] on the definitive adoption of the US currency (with the former national coinage as auxiliary means of payment); effective immediately

Timeline

• 21.02.1937
• Law [No. 1259] on the introduction Dominican subsidiary coins to circulate alongside US American paper money; effective immediately.
• 29.03.1938
• Decree [No. 2247] on the start of issuance of the Dominican coins of 50, 25, 10, 5 Cents; effective 18.04.1938:
  - 17.06.1938: Demonetization of US American silver and base metal coins.
  - The exchange period for the US American 1 Cent was extended several times until a final 15.04.1940 (by decree [No. 553] of 16.02.1940).
  - US American coins of 25, 10, 5 Cents were re-issued by law [No. 635] of 12.12.1941 and circulated until 03.02.1943, when demonetized by decree [No. 346] of 04.11.1942.
• 09.10.1947
• Law [No. 1528] on the creation of the national currency; effective upon constitution of the bank on 23.10.1947
• 09.10.1947
• Law [No. 1529] on the establishment of the Central Bank of the Dominican Republic; effective upon constitution of the bank on 23.10.1947.
  - 29.12.1962: Law [No. 6142] on the revised statutes of the Central Bank; effective 01.01.1963.
• 18.10.1947
• Start of the currency exchange:
  - 18.10.1947: Start of issuance of Dominican paper money, authorized by decree [No. 4658] of that day.
  - 02.02.1948: Resolution of the Monetary Authority ("Junta Monetaria") on the termination of the first phase of the currency exchange and demonetization of the US American banknotes; effective 07.02.1948 by decree [No. 4921] of that day.
• 23.09.2011
• Announcement of the central bank to abolish the addition "de Oro" in the currency name; gradually implemented

Valuation Regimes

• 1937-1985
• Fixed rate against US Dollar
• 1985-
• Variable rate