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    Currency in the US Virgin Islands

    A practical currency and money guide to travel, living and doing business in the US Virgin Islands and the US dollar (USD).

     

    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.

    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.

    An example US dollar banknote

     

    Travel Ideas and Money Tips for the US Virgin Islands

    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).

    U.S. Virgin Islands.

    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.

     

     

    Expat Money & Business Guide to the US Virgin Islands

     

    Managing your finances in the US Virgin Islands

    Here we list some key points for expats and businesses to consider when managing financial dealings in the US Virgin Islands:

    1. Understand US dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the USD exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.

    2. Use a local US dollar bank account: A local USD bank account can make it easier for you to manage your finances and pay bills while you are in the US Virgin Islands. It may also be more convenient to use a local USD bank account to make purchases and withdraw cash.

    3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in the US Virgin Islands. This can help you avoid legal issues and ensure that you are complying with local requirements.

    4. Consider the tax implications: It is important to understand the tax implications of living or doing business in the US Virgin Islands. This can help you plan your finances and ensure that you are paying the correct amount of tax.

    5. Seek financial advice: If you are unsure of how to manage your finances in the US Virgin Islands, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.

     

    USD/EUR – Market Data

    The exchange rate of US dollar (USD), or the amount of USD that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest USD/EUR rate plus recent trend, chart, forecasts and historic rates.

    1 USD = 0.9187 EUR
    Sell USD  →  Buy EUR
    USD to EUR at 0.9191 is 3.1% below its 90-day average 0.9483 with range 0.9161-1.0257.
    |
      1 EUR = 1.0885 USD
     
    USDEUR :
    90-DAYLOW1d
     

    In early December the dollar dropped to 94 against the euro after rising to a 20-year high of 1.04 in late September, as markets predict that the aggressive interest rates hikes by the Fed to reign in inflation may be over.

    However, due to the Eurozone’s reliance on gas from Russia, the euro will remain vulnerable while Putin’s so called Russian ‘special military operation’ in Ukraine continues.

    USD-EUR Forecasts

    DateUSD/EURChangePeriod
    17 Jan 2023
    0.9267
    0.7% 2 Week
    02 Nov 2022
    1.0190
    9.7% 3 Month
    31 Jan 2022
    0.8905
    3.4% 1 Year
    01 Feb 2018
    0.7993
    15.2% 5 Year
    02 Feb 2013
    0.7340
    25.4% 10 Year
    05 Feb 2003
    0.9230
    0.3% 20 Year
    USD/EUR historic rates & change to 31-Jan-2023

     

    Compare US dollar Exchange Rates & Fees

    The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to the US Virgin Islands or planning a trip or maybe living there, so will need to exchange and spend US dollar.

    Loading comparison rates...

    ProviderAmountsRateTotal Cost
       
       
       
       
     

    It is important to note that the exchange rate of the US dollar can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect USD exchange rates before making any financial decisions.

     

    The US dollar is also the domestic currency in 7 other countries.

     

     

     

     

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