Currency in US Virgin Islands: USD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in the US Virgin Islands with the US dollar.
What's in this US Virgin Islands currency guide?
What currency is used in the US Virgin Islands?
The official currency of the US Virgin Islands (country code: VI) is the US dollar, with symbol $ and currency code USD.
What is a good US dollar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the US dollar
Here are a few things you may want to know about the U.S. dollar:
1. The U.S. dollar is the official currency of the United States and is used for all transactions within the country.
2. It is abbreviated as "USD": The U.S. dollar is abbreviated as "USD," and the symbol for the dollar is "$."
3. It is accepted worldwide: The U.S. dollar is a widely accepted currency and can be used for transactions in many countries around the world.
4. Its value fluctuates: The value of the U.S. dollar can fluctuate based on a variety of economic factors, such as interest rates, inflation, and the strength of the U.S. economy.
5. It is issued by the Federal Reserve: The U.S. dollar is issued by the Federal Reserve, which is responsible for managing the country's monetary policy. The Federal Reserve is a quasi-independent agency that is responsible for setting interest rates and regulating the money supply in the U.S.
The U.S. dollar is the official currency of several countries outside the United States, including:
1. East Timor: The U.S. dollar is the official currency of East Timor, a country located in Southeast Asia.
2. El Salvador: The U.S. dollar is the official currency of El Salvador, a country located in Central America.
3. Zimbabwe: The U.S. dollar is one of the official currencies of Zimbabwe, a country located in Southern Africa.
4. The British Virgin Islands: The U.S. dollar is the official currency of the British Virgin Islands, a group of islands located in the Caribbean Sea.
5. The Marshall Islands: The U.S. dollar is the official currency of the Marshall Islands, a group of islands located in the Pacific Ocean.
6. The Federated States of Micronesia: The U.S. dollar is the official currency of the Federated States of Micronesia, a country located in the Pacific Ocean.
The U.S. dollar banknotes and coins
The physical currency consists of coins and banknotes. The coins come in denominations of 1 cent (¢), 5 cents (nickel), 10 cents (dime), 25 cents (quarter), and 50 cents (half dollar). The banknotes come in denominations of $1, $2, $5, $10, $20, $50, and $100.
The banknotes feature images of famous American historical figures, such as George Washington, Abraham Lincoln, and Benjamin Franklin. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
For more USD information check out our selection of US dollar news and guides.
Frequently Asked Questions
What currency should I use in the US Virgin Islands?
The domestic currency in the US Virgin Islands is the US dollar.
What is the US dollar currency code and symbol?
The three letter currency code for the US dollar is USD — symbol is $.
Which countries use the US dollar?
It is the domestic currency in United States, East Timor, Ecuador, El Salvador, British Virgin Islands, US Virgin Islands, Caribbean Netherlands and Turks and Caicos Islands.
Is the US dollar a closed currency?
No, the US dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of EUR and USD?
Here are some popular conversion amounts for EUR to USD (Euro to US dollar)*.
*Converted at the current EURUSD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for the US Virgin Islands
Using Wise for US dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in US dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want US dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the USD cash locally or even on travel day at the airport.
US Virgin Islands: Travel Guide
Traveling to the US Virgin Islands requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
This trio of islands in the Caribbean Sea—St. John, St. Croix, and St. Thomas—is famous for its dreamy beaches, world-class snorkeling and diving, and pristine beaches. Travelers can find accommodations for all types of trips, whether it's a family getaway or a romantic retreat. St. John, for example, is known as the "Beverly Hills of the Caribbean," thanks partially to its more remote location (visitors must arrive on a boat or ferry from Charlotte Amalie).
St. Thomas, meanwhile, is perhaps the most popular island in the U.S. Virgin Islands. It's a popular port of call for cruise ships, and is the most likely place to get a flight.
And vacationers seeking exceptional food and a slightly more quiet island escape should head to St. Croix. The largest of the main islands, St. Croix is known for its burgeoning food scene (and an always-excellent West Indian curry).
What currency is used in the U.S. Virgin Islands?
Currency is the US dollar (US$). There seems to be no shortage of ATMs in the Virgin Islands, all of which dispense U.S. dollars. They are everywhere -- on the downtown streets of Charlotte Amalie, within the large resorts, and in shopping arcades -- making it easy to get quick cash. Many establishments in the Virgin Islands, including most of those recommended in this guide, accept credit cards. MasterCard and Visa are widely accepted on all the islands that cater to visitors, especially Virgin Gorda, Tortola, St. John, St. Croix, and, of course, St. Thomas.
However, visitors should not rely solely on credit cards, as many establishments in the Virgin Islands accept only cash. Often, villas and condos or small inns will only accept cash or personal checks in advance.
How to get around in the U.S. Virgin Islands?
Seaborne Airlines operates seaplanes between the downtown harbors of St Thomas' Charlotte Amalie and St Croix' Christiansted. The flight takes 20 minutes and goes roughly once per hour. Cape Air goes between St Thomas’ and St Croix’ main airports.
Frequent ferries run between the St Thomas and St John. They go hourly from between Red Hook and Cruz Bay (US$7 one way, 20 minutes), and three times daily between Charlotte Amalie and Cruz Bay (US$13 one way, 45 minutes). No ferries currently go to St Croix. Check VI Now (www.vinow.com) for updated schedules.
Vitran operates air-conditioned public buses over the length of St Thomas, St John and St Croix. Buses run daily between 5:30am and 7:30pm (approximately one bus per hour). Service isn't very reliable. St Thomas also has ‘safari’ buses, ie open-air trucks outfitted with benches.
To rent a car in the USVI you need to be at least 25 years old, hold a valid driver’s license and have a major credit card. Cars start at around US$70 per day (higher on St John). If you’re traveling in peak season, it’s wise to reserve a couple of months in advance, as supplies are limited. Major international car-rental companies have branches at the airports and sometimes at ferry terminals.
All the islands have taxis that are easily accessible in the main tourist areas. Most vehicles are vans that carry up to 12 passengers; sometimes they’re open-air trucks with bench seats and awnings and room for 20 people. Taxis service multiple destinations and may stop to pick up passengers along the way, so rates are usually charged on a per-person basis. Rates are set, with prices listed in the free tourist magazines and at VI Now (www.vinow.com). Rates go down a bit if more than one person takes the taxi. Always confirm the price before getting in.
Travel tips for the U.S. Virgin Islands.
Adventurous travelers love zipliningthis link opens in a new tab here, while the more leisurely prefer chartering a boat, eating slow West Caribbean lunches, and sipping wine. If you need a workout, look for the famed “99 steps” in Charlotte Amalie, the capital city of the Virgin Islands, which lead to Blackbeard’s Castle. Constructed in the 1660s by the Danish military, it's a great spot for a view.
Snorkeling and diving are top-notch here, with gorgeous reefs that lure visitors worldwide (the Virgin Islands Coral Reef Monument is a terrific spot for donning your goggles). And don’t miss the sprawling national parkthis link opens in a new tab on St. John, where you can snorkel, camp, and hike along mountain paths to hidden coves.
Everyday Costs in in US Virgin Islands
How much does it really cost to live, work, or travel in US Virgin Islands? Here's what to expect for daily expenses and expat living.
Currency Guide for the U.S. Virgin Islands (ISO code: VI)
If you're planning a one-week getaway to the stunning U.S. Virgin Islands (USVI), budgeting around $1,500 to $2,200 will allow for a comfortable mid-range stay. During your visit, you can expect to spend around $50–$70 daily on meals, activities, and transportation. Here’s a sneak peek at some typical daily expenses in the local currency, the U.S. Dollar (USD):
- 🍽️ Meal at a local restaurant: $20
- ☕ Coffee: $5
- 🚍 Public transport fare: $2
- 📱 Prepaid SIM card: $30
- 🏨 Budget hotel or Airbnb: $100–$150
Overall, the USVI can be regarded as an average to slightly expensive destination compared to the United States and the UK. While daily expenses may feel quite similar to those in the U.S., accommodation and dining in tourist hotspots can be pricier than many regions in the UK, especially outside of London. Travelers from Canada or Australia might find similar price ranges, especially in terms of transportation and dining, though the beaches and cultural experiences in the USVI might justify the slight premium.
Expat Living in the U.S. Virgin Islands
For expats, the cost of living in the U.S. Virgin Islands can range from $2,500 to $4,000 per month, depending on your lifestyle. Essential monthly expenses might break down as follows:
- Rent for a 1-bedroom apartment: $1,200–$2,000
- Utilities: $200–$300
- Groceries: $400–$600
- Transportation (including car rental/maintenance): $300–$500
When it comes to banking in the USVI, credit cards are widely accepted, but it's a good idea to have some cash on hand for smaller establishments or markets. For international money transfers, services such as Wise or OFX can provide better rates compared to local exchanges, and they typically offer lower fees. It's often more cost-effective to use these online services rather than exchanging cash through local banks or currency exchanges. With a little planning, managing your finances while living in the picturesque U.S. Virgin Islands can be a breeze!
USD/EUR Market Data
The below interactive chart displays the USD/EUR change and UP📈 DOWN📉 trends over the past 1 Year.
Recent US dollar Market News
The U.S. dollar (USD) is the world’s most traded currency and serves as the global reserve currency. Backed by the U.S. economy, it is a key benchmark for financial markets, commodities, and forex trading. Its value is influenced by monetary policy, economic data, global risk sentiment, and geopolitical events.
The Federal Reserve (Fed) determines the dollar’s strength through interest rate policies. Higher rates attract investors to the USD, causing it to appreciate. Lower rates or a dovish stance can weaken demand for the dollar. Inflation, employment data, and GDP growth are critical drivers of the dollar’s movement.
The USD is a safe-haven currency, strengthening during economic uncertainty, geopolitical tensions, or market volatility. Investors shift funds into U.S. Treasury bonds and USD assets during risks like recessions, banking crises, or global conflicts, boosting the dollar’s value.
As the dominant currency in global trade, the USD is used for most international transactions, including pricing key commodities like oil and gold. Rising oil prices increase global demand for the dollar. The dollar’s strength affects emerging markets with dollar-denominated debt, making loans more expensive to repay.
U.S. trade relations and fiscal policies also influence the dollar. Tariffs, trade deals, and government spending impact economic growth and investor confidence. A widening trade deficit can pressure the dollar, while strong demand for U.S. goods supports its value. The USD’s relationship with China is crucial in global forex markets.
Geopolitical events like the Ukraine war reinforce the USD’s safe-haven status, with capital inflows into the U.S. during uncertainty. Sanctions on Russia and shifting energy markets influence global demand for the dollar.
The dollar’s future depends on Federal Reserve policies, inflation trends, economic performance, and global market stability. While discussions around de-dollarization exist, the USD remains the backbone of the global economy, influencing financial markets worldwide.
For more USD information read our News and guides to the US dollar.
Send Money to the US Virgin Islands - Best Rates
To get a good (and fair) exchange rate when sending money to the US Virgin Islands you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to the US Virgin Islands
When sending money to the US Virgin Islands it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or US dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted USD amount will be transfered to the recipient account you specify in the US Virgin Islands.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more US dollar deposited into the recipient bank account and less margins and fees kept by the banks!