Complete Financial Report of Saint-Barthélemy

Basic Information

• Territory ISO Code: BL

• Official Language: French

• Language ISO Code: fr

• Current Official Currency: Euro (EUR)

• Currency ISO Code: EUR

Monetary History of Saint-Barthélemy

Current Official Currency: Euro (EUR)

• Since Saint-Barthélemy became a French overseas collectivity in 2007, the official currency has been the euro, the same as metropolitan France and the Eurozone.

• The euro is subdivided into 100 cents.

• Coins in circulation: 1, 2, 5, 10, 20, 50 cents, 1 euro, and 2 euros.

• Banknotes in circulation: 5, 10, 20, 50, 100, 200, and 500 euros.

• Currency is issued by the European Central Bank and the Banque de France.

• Although the US dollar is often accepted in local commerce, the euro is the only legal tender.

Historical Currencies

• Saint-Barthélemy has experienced various sovereignties and currencies over its history:

  • French colonization began in 1648.

  • Transferred to Sweden in 1784, during which the Swedish riksdaler was the predominant currency, but the island functioned as a free port with various currencies circulating.

  • Returned to France in 1878, which reinstated the French franc as the official currency.

• The French franc circulated until the introduction of the euro in 1999 (book money) and 2002 (physical currency).

Historical and Economic Context

• Saint-Barthélemy is a small Caribbean island known for luxury tourism and a high standard of living.

• The capital, Gustavia, is named after King Gustav III of Sweden, reflecting the Swedish period.

• The adoption of the euro represents full political and economic integration with France and the European Union.

• The local economy relies mainly on tourism, duty-free trade, and luxury services.

• The euro provides monetary stability and facilitates transactions with Europe and other Eurozone countries.

Summary

Saint-Barthélemy currently uses exclusively the euro as its official currency, reflecting its status as a French collectivity and member of the Eurozone. The US dollar is informally accepted but is not legal tender.