*

Many nations use the word “dollar” to describe their currency. There are Australian dollars, Canadian dollars, and also Fijian dollars, among others. From Brunei to Zimbabwe, friend can find dollars.

You are watching: What type of money is used in puerto rico

While the receipt may have actually the exact same name, dollars indigenous different countries aren’t precious the exact same amount. A disagreement in Belize is worth fifty percent as lot as a U.S. Dollar. Ten U.S. Dollars space worth an ext than one thousand Jamaican dollars.

Since Puerto Rico is a U.S. Territory, the U.S. Disagreement is Puerto Rico’s currency. There is no have to worry around exchange rates when one travels in between Puerto Rico and also the States.

Website PuertoRico.com uses this explanation. “Puerto Rico’s monetary unit is the United claims Dollar (USD) as it is a republic country the the United claims of America.”

PuertoRico.com is right about Puerto Rico’s currency yet wrong about Puerto Rico itself, through the way. Puerto Rico is a are of the united States, and also not a country. That is likewise not “a commonwealth.” commonwealth is a indigenous in the territorial government’s main name, just as the is in the official names of four States and also another territory. That is not a politics status.

Between 1902 and 1913, there were a couple of tries at a one-of-a-kind territorial dollar for Puerto Rico, consisting of bilingual currency, which could have been the very first of its kind. Due to the fact that 1913, Puerto Rico has just used the very same dollars supplied throughout the united States.

In Puerto Rico, the is usual to hear the U.S. Dollar called “peso” or “dolar.”

Although the currency is the very same in Puerto Rico and the States, the territory and also the remainder of the nation are in separate civilizations economically.

Territory status way economic inequality.

The per capita revenue in Puerto Rico has been grounding at one third that the the nation as a whole, and fifty percent that the the State with the lowest income level.

The median individual the Puerto Rican beginning in a State earns twice as much a resides of the territory.

The world of Puerto Rico pay more than double as lot for power as civilization pay in the continental united States.

Etc.

The truth around the economic case in Puerto Rico under territory status is simple; it doesn’t call for a high finance calculation.

See more: What Kind Of Fluid Does A 2002 Ford Explorer Transfer Case Fluid

Puerto Rico’s territory condition is not great for its economic situation – U.S. Statehood would advantage Puerto Rico economically, simply as it did Hawaii and also Alaska. Tell her legislator the it’s time to move forward on statehood.