Palau uses US Dollar
Palau is another country which is dependent on the mighty power of the US dollar. The ISO 4217 code of US dollar is USD. The symbol which is used by the US dollar is ‘$’. The dollarization of Palau has happened long time back. There were no qualms that only United States could take care of the revenue of this small country. The maximum revenue of the country is obtained from tourism. The Palau is a beautiful island which is situated in the Pacific Ocean.
Palau Currency ISO 4217 Code
The ISO 4217 code of the Palau dollar is USD. This code is an alphabetically generated code which is used to recognize the dollar all over the world. This code is generated to all the currencies which are spread all around the world. The symbol of the dollar is ‘$’.
Palau Currency Banknotes Types
The banknotes which are used in Palau are the same notes used in the United States. There are more than 10 different types of banknotes which are printed by the Federal Reserve Bank. Out of these 10 only 2 of them are circulated widely in the US market. The denominations in which the US dollar banknotes are found are $1¸ $2¸ $5¸ $10¸ $20¸ $50 and $100. There was a proposal recently that the US dollar banknotes should have a new design using vivid colors so that the forging of these banknotes becomes difficult.
Palau Currency Coins Types
Palau does not have the right to mint its own coins as of now. Therefore the coins are based from the US government itself. The denominations in which the currency coins are circulated in Palau are 1¢¸ 5¢¸ 10¢ and 25¢. The currency coins are known to have a mint mark which differentiates the currency coins from the duplicates or fake coins. The currency coins have a national symbol of US on one side of the coin commemorating the great personalities or event of United States history.
Currency Exchange Rate to other World Famous Currencies like US
The exchange rate of US dollar when compared to other major currencies in the world as of February 28th 2011 is –
1.00 USD = 0.726744 EUR
1.00USD = 0.619057 GBP
For more information on the Palauan dollar you can visit www.federalreserve.gov