Certainly! Here is the complete financial report of Puerto Rico translated into International English:

Complete Financial Report of Puerto Rico

Basic Information

• Country ISO Code: PR (Unincorporated territory of the United States)

• Official Languages: Spanish and English

• Language ISO Codes: es (Spanish), en (English)

• Current Official Currency: United States Dollar (USD)

• Currency ISO Code: USD

Monetary History of Puerto Rico

Current Official Currency: United States Dollar (USD)

• The US dollar has been the official currency of Puerto Rico since 1898, when the island became a US territory following the Spanish-American War.

• The dollar is issued by the United States Federal Reserve and circulates fully in Puerto Rico, with no local currency in use.

• Coins in circulation: 1, 5, 10, 25, 50 cents, and 1 dollar (standard US coins).

• Banknotes in circulation: 1, 2, 5, 10, 20, 50, and 100 dollars (standard US banknotes).

• Status: active and sole currency in circulation.

Historical Currencies of Puerto Rico

• Puerto Rican Peso (1895–1899):

  • Before the US dollar, Puerto Rico used the Puerto Rican peso, officially introduced in 1895 as a provincial currency.

  • The peso was silver-backed and equivalent to 5 Spanish pesetas.

  • Silver coins were minted in denominations of 5, 10, 20, 40 cents, and 1 peso, with significant mintages in 1895.

  • Banknotes featured local cultural and historical symbols and were issued by the Puerto Rico Treasury.

  • In 1900, following the US Currency Act, the US dollar became the official currency, and the peso was gradually withdrawn.

• Spanish and Other Foreign Coins:

  • Prior to the Puerto Rican peso, Spanish colonial coins such as reales and pesetas circulated, along with Mexican, British, and French coins.

  • The Madrid Mint produced coins specifically for Puerto Rico in the 17th century, including silver coins bearing King Alfonso XIII’s effigy.

• Historical Banknotes:

  • From 1766, Puerto Rico was the first Spanish overseas province to issue 8 reales notes.

  • In 1890, the Spanish Bank of Puerto Rico began issuing notes, later adapted to reflect American governance.

  • Between 1909 and 1913, the Bank of Puerto Rico issued US dollar notes featuring allegorical figures and local symbols.

Economic and Monetary Context

• The transition from the Puerto Rican peso to the US dollar in 1900 unified the island’s monetary system with that of the United States, facilitating trade and economic integration.

• Although the US dollar is the official currency, locals often use traditional terms such as “peso” for the dollar, “peseta” for the quarter dollar, “vellón” for the nickel, and “chavo” or “perrita” for the cent.

• Adoption of the US dollar strengthened economic and political ties with the United States, consolidating Puerto Rico as a territory integrated into the US financial system.

Summary Table

This report has been prepared in International English based on reliable historical and financial sources about Puerto Rico’s currency.