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Local currency vs usd

Tafaf NatatRayay Nafermul Min

What is the ratio of local currency vs usd? Where would an affordable apt with ac located? Can I live on $1400 usd/ month?

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RockyM

Your questions are WAY to general.

ddmcghee

= 59.4

taccj9903

Let me share something I've learned.  I have a CC with a low limit that I specifically use when I am here in the RD. I used it for shopping etc.  When you insert your CC into the machine at the store you are given 2 options, pay in DOP or your home currency, mine is the US dollar.  Anyway, when I select to pay in DOP it ends up being cheaper, my card is charged less than it would have been if I had selected to pay in dollars at the store.  I believe this is because of how the conversion rates work, I always get an immediate alert when that CC is charged.

planner

A new expat will find it challenging to live on US 1,400 here.  Many will chime in and say yes you can. Of course it's possible. It's not likely without understanding how things work here and speaking Spanish.


Depending on what area of the country you are talking about, answers will range from, absolutely not, to sure you can try!

wondering9

@planner I don't know if this question is too general to answer, but can you give any examples of ways that "understanding how things are done here" can help you budget? Besides eating local foods and not assuming you can get all US/Canada-style mod cons?

planner

Sure. Being able to negotiate pricing is based on understanding how it works here.  Getting a rental apt or house - if you rely on ads you will never see 80% of the market.  Knowing neighborhoods requires time here. Knowing what should be in a rental contract requires experience. 


Knowing you need to check your electricity meter when you first move and what it should be vs what it is. How to get it fixed and who can help you!


My list can go on and on! Others have examples too.

windeguy

$1,400 of income would not even qaulify a person to become a legal resident, let alone live here comfortably. 


Don't do it.  Come and vacation and then return to where you are already living on that.  Where is that, by the way?


When using a CC always choose DOP and not USD.


The System is designed to get a Gringo Price out of you.  Speak Spanish and that will help.

But to repeat, I would not want to live here on $1,400 US a month.  Nope.  Sure you could, painfully.

latoyalatoya511

Is $1,400 the minimum wage approved by DR government?

planner

Minimum wage is no where near 1400 us a month.


Minimum wage is categorized by size of company and type of business. I think the highest minimum wage is currently around US 350 a month!  Everything else is lower than this.  I believe the lowest minimum wage is just under  US 200 a month.


Informal jobs can be lower than this.

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UncleBuck

°ª±ô²¹³Ù´Ç²â²¹±ô²¹³Ù´Ç²â²¹511Ìý No, not even close.  Depending on the industry, and the number of employees, the minimum wage varies.  The minimum for a small or micro business is just under $15,000 RD/month or less than $250 US/month.  The highest minimum wage is for a very large business at almost $25,000 RD/month or about $415 US/month.