Traveling to Puerto Rico offers a unique opportunity to explore the island’s rich culture, stunning landscapes, and warm hospitality. One essential aspect of your travel preparations is understanding the currency used in Puerto Rico. As a commonwealth of the United States, Puerto Rico uses the United States Dollar (USD) as its official currency. This seamless integration with U.S. currency simplifies transactions for visitors, making it easier to navigate purchases and expenses during your stay.

The history of currency in Puerto Rico is intertwined with its colonial past. Before the arrival of European colonizers, the indigenous Taíno people used various forms of trade and barter, including stone-based currencies. With Spanish colonization, the Spanish real became the predominant currency on the island. However, following the Spanish-American War in 1898, Puerto Rico transitioned to using the U.S. dollar, which remains in circulation today. This historical context adds depth to your understanding of Puerto Rican culture and its economic ties to the mainland United States.

In this guide, you’ll find detailed information about the U.S. dollar in Puerto Rico, including denominations, tips for currency exchange, and practical advice for managing your finances while traveling. Whether you’re indulging in local cuisine at a restaurant or shopping for unique souvenirs at a market, having a solid grasp of currency will enhance your travel experience.

Currency Overview

Puerto Rico exclusively uses the United States Dollar (USD) as its currency. The dollar is divided into 100 cents, referred to locally as centavos or chavitos. While most visitors will encounter familiar denominations, it’s worth noting some local terminology: nickels (5 cents) are called fichas or vellones, and quarters (25 cents) are referred to as pesetas.

Denominations

Coins:

• 1¢ (centavo/chavito): Penny
• 5¢ (vellón/ficha): Nickel
• 10¢: Dime
• 25¢ (peseta): Quarter
• 50¢: Half Dollar (less commonly used)
• $1: Dollar Coin

Bills:

• $1
• $5
• $10
• $20
• $50
• $100

It’s important to note that higher denominations such as $500 and above are no longer circulated and are primarily used for bank transfers.

Currency Exchange

For international travelers arriving in Puerto Rico, exchanging your home currency for U.S. dollars is straightforward. Many banks and financial institutions offer currency exchange services throughout the island. Some reputable options include:

• Banco Popular: Offers foreign currency exchange at various branches.
• Caribbean Foreign Exchange: Located in Old San Juan.
• Thomas Cook Foreign Exchange: Available at major airports.
• Western Union: Provides money transfer services at various locations.

ATMs are widely available across Puerto Rico and allow you to withdraw U.S. dollars directly from your bank account. These ATMs are linked to international banking networks, making it easy for travelers to access cash as needed. Banking hours typically run from 9 AM to 3:30 PM on weekdays.

Tips for Travelers

1. Credit Cards: Most establishments in Puerto Rico accept major credit cards such as Visa and Mastercard. However, it’s advisable to carry some cash for smaller vendors or markets that may not accept cards.
2. Tipping Practices: Tipping is customary in Puerto Rico, similar to the mainland United States. A standard tip ranges from 15% to 20% of your bill at restaurants and bars.
3. Be Mindful of Taxes: Keep in mind that hotel taxes can vary; casino hotels typically charge an 11% tax on rooms, while normal hotels charge around 9%. Additionally, sales tax on goods and services has increased to approximately 11.5%.
4. Avoid Currency Exchange at Airports: While convenient, airport exchange rates can be less favorable than those offered by banks or local exchange services. If possible, plan ahead and use ATMs or banks for better rates.
5. Local Terms: Familiarize yourself with local terms for currency; this can enhance your interactions with locals and provide insight into Puerto Rican culture.
6. Keep an Eye on Your Budget: Prices in Puerto Rico may be higher than in some parts of the mainland U.S., especially for imported goods due to shipping costs. Consider shopping at local markets for fresh produce and unique crafts at better prices.

By understanding the currency system in Puerto Rico and following these tips, you can ensure a smoother financial experience during your travels on this beautiful Caribbean island!