Complete Financial Report of the United States Virgin Islands

Basic Information

• Country ISO Code: VI

• Official Language: English

• Language ISO Code: en

• Current Official Currency: United States Dollar

• Currency ISO Code: USD

Historical and Current Currencies of the United States Virgin Islands

1. United States Dollar (USD) – Current Official Currency

• ISO Code: USD

• Symbols: $ or US$

• Singular Name: dollar

• Plural Name: dollars

• Monetary Subdivision: 1 dollar = 100 cents

• Fraction Name (singular): cent

• Fraction Name (plural): cents

• Initial Production Date: 1792 (introduction of the US dollar)

• Final Production Date: ongoing

• Initial Circulation Date in the US Virgin Islands: 1917 (when the islands became a US territory)

• Final Circulation Date: currently in circulation

• Mint: United States Mint (various locations including Philadelphia, Denver, San Francisco, and West Point)

• Issuing Authority: United States Department of the Treasury

• Coin Denominations: 1, 5, 10, 25, 50 cents; 1 dollar (coin)

• Banknote Denominations: 1, 2, 5, 10, 20, 50, 100 dollars

• Designs and Symbols:

  • Coins feature iconic US symbols such as Presidents, national monuments, and historical figures.

  • Banknotes depict portraits of US presidents and founding fathers, along with national symbols and landmarks.

• Historical Context:

  • The US Virgin Islands were formerly the Danish West Indies until 1917, when the United States purchased the islands.

  • Upon transfer, the US dollar became the official currency, replacing the Danish West Indian daler and other colonial currencies.

  • The US dollar has since been the sole legal tender, supporting economic integration with the US and international trade.

• Status: active and sole legal tender in the US Virgin Islands.

• Curiosities:

  • The US Mint has issued commemorative coins and special series such as the America the Beautiful quarters, which are circulated in the USVI.

  • The US dollar’s widespread acceptance facilitates tourism and commerce in the islands.

2. Danish West Indian Daler – Historical Currency

• ISO Code: No longer in use

• Circulation Period: until 1917

• Context:

  • The currency used during Danish colonial rule over the islands, including the daler and various Danish and European coins.

  • Replaced by the US dollar after the 1917 transfer of sovereignty.

• Status: out of circulation

Economic and Monetary Context

• The US Virgin Islands have a service-based economy with tourism, trade, and financial services as key sectors.

• The use of the US dollar ensures monetary stability and facilitates economic transactions with the mainland United States.

• The Federal Reserve System and US Treasury regulate currency issuance and monetary policy.

Summary Table

Additional Information

• Legislation: Currency and monetary policy in the USVI are governed under US federal law.

• Design and Production: Coins and banknotes are produced by the United States Mint and Bureau of Engraving and Printing.

• Commemorative Issues: The US Mint issues commemorative coins that circulate in the USVI as part of national programs.

• Signatories on Banknotes: Include the Treasurer of the United States and the Secretary of the Treasury.

This report is prepared in English, the official and most widely used language of the United States Virgin Islands, based on authoritative and up-to-date sources.

If you wish, I can prepare the translation of this report into Brazilian Portuguese or provide further details.