Puerto Rico Currency

Puerto Rico is one of the common wealth states of the United States of America. The county uses the monetary unit of US dollar as its official currency. Puerto Rico is one of the biggest tourist attractions in United States. The country locals call the United States dollar as peso or dolar. This has terminology comes from the culture of the Puerto Rico. There are many other names which are given to the currency of the country. Each dollar is subdivided into 100 centavos.

About Puerto Rico Currency

Puerto Rico currency was initially Pesos. The US dollar 5c is also known as ficha or vellons. Also the local pronunciation of cents is Chavitos. ‘pesetas’ is the local name for 25c. Apart from these names the Puerto Rico locals call the dollar as dolar or pesos. The currency of the country has been dependent up the American dollar since a long time. The value of the US dollar stands its ground as the same value of dollar in the other countries.

Puerto Rico Currency ISO 4217 Code

The ISO 4217 code of the Puerto Rico 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 ‘$’.

Puerto Rico Currency Banknotes Types

Puerto Rico currency banknotes are the same as the currency of the US dollars. The US dollar banknotes are issued in 10 different types by the Congress of the US. But officially only two types of banknotes are used for circulation. The United States Banknotes and the Federal Reserve Notes are the only two types of banknotes which are used by the countries which are dollarized. The banknotes are found in the denominations of $1¸ $2¸ $5¸ $10¸ $20¸ $50 and $100. In 2004¸ there was a proposal of changing the design of the banknotes so that the forging is curbed.

Puerto Rico Currency Coins Types

The currency coins of the Puerto Rico are not minted in the country itself. The currency coins are the same as the one which are used in the United States.  The coins come in the denominations of 1¢¸ 5¢¸ 10¢ and 25¢. The centavos are commonly used from of currency in this part of the world. There is a unique feature of all the dollar coins which is the mint mark. The mint mark is a rugged lines which are along the perimeter of the coins. These marks are considered to be the given so that they cannot be duplicated easily.

The official users of the same currency are the following countries United States‚ Ecuador‚ El Salvador‚ Northern Mariana Islands‚ U.S. Virgin Islands‚ American Samoa‚ Guam‚ United States Minor Outlying Islands Saba. The same currency is also valid in these countries.

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 Puerto Rico currency you can visit www.federalreserve.gov