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Currency of Puerto Rico

Puerto Rico is a commonwealth of the US and uses the dollar (USD$). The US dollar is often referred to as the "peso." Puerto Rico relies on the U.S. government to print money and to manage the money supply via the U.S. Federal Reserve and the Central Bank.

All major credit cards are accepted in Puerto Rico, with Visa and Mastercard the most widely used. Many retailers in main centres also have Apple Pay.

Currency

The US dollar is divided into 100 cents (¢) and referred by locals as "peso".

The denominations of coins and banknotes are as follows:

Coins
1¢, called the centavo or chavito (penny); 5¢, called the vellón or ficha (nickel); 10¢ (dime); 25¢, called the peseta (quarter); and the seldom-seen 50¢ (half-dollar) coin and $1.

Bills
$1, $2, $5, $10, $20, $50, $100, $500, $1,000, $5,000, and $10,000. On July 14, 1969, the Treasury Department and the Federal Reserve Board announced that they would immediately stop distributing currency in denominations of $500, $1,000, $5,000 and $10,000. Production of these denominations stopped during World War II. Their main purpose was for bank transfer payments.

Currency Exchange

Currency Exchange can be arranged through many institutions in Puerto Rico, including:

Banking hours are 9am to 3:30pm.

Check the current currency rate with XE currency converter.

Currency Exchange Rates

USD 1.00 = AUD 1.43 CAD 1.32 NZD 1.52 GDP .7859 EUR .8827 JPY 108.51

Note: These rates are not updated daily and should be used as a guideline only.

Travellers' Checks, Debit and Credit Cards

All major credit cards are widely accepted: American Express, Visa, Diner's Club, Discovery, Master Card and other Bank credit cards. You can also access your money at thousands of ATMs throughout the island.

Budget Travel

Yes, it's possible. With smart planning and a little bit of research it is possible to travel to Puerto Rico without spending a fortune.

Cost of Living

As many other islands, Puerto Rico imports most of its products. Overall, the cost of living in Puerto Rico is approximately 14.2% lower than in the United States. Grocery items on the island are 7.5% more expensive than the average on the U.S. mainland (Cost of Living Index Calculator, 2020).

Relative Costs

Below is a rough guide to food and beverage costs in the island.

Budget meal: US $3-15
Moderate restaurant meal: US $15-30
Top-end restaurant meal: US $30 and up

Budget room: US $40-75
Moderate hotel: US $75-200
Top-end hotel: US $200 and up

Taxes & Tips

Puerto Rico general sales and use rate increased from 7% to 10.5% with an effective total tax rate of 11.5% on many transactions when combined with the municipal sales and use tax of 1 percent (as of July 1, 2015). Puerto Rico now has the highest sales tax in America.

Tipping is much the same as in the States. In hotels, major restaurants and nightclubs services charges are usually included. However, many inexpensive restaurants do not add service charge. If it isn't, tip between 15% and 20%.

Read about other travel tips.



Additional Resources




Did You Know?

To become the 51st state, Congress would have to pass a statute to admit Puerto Rico as a state.