what type of currency is used in puerto rico?
United States dollar
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 The currencies of Puerto Rico closely follow the historic development of Puerto Rico . As a colony of Spain and the United States , Puerto Rico was granted the use of both foreign and provincial currencies . Following the Spanish colonization in 1502 , Puerto Rico became an important port , with its own supply of gold . However , as the mineral reserves ran empty within the century , the archipelago 's economy suffered . The Spanish Crown issued the Situado Mexicano , which meant that a semi @-@ regular shipment of gold from the Viceroyalty of New Spain would be sent to the island , as a way to provide economic support . Between 1636 and 1637 , Philip IV of Spain imposed a tax which had to be paid using a revenue stamp . Inspired by this , Puerto Rico began producing banknotes in 1766 , becoming the first colony to print 8 @-@ real banknotes in the Spanish Empire and which in the Spanish government 's approval of subsequent issues . 

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 The remaining exemplars of Puerto Rican currency have gathered significant value with the years , particularly in the United States . The value of them within the collectors of that country is due to the special nature of the post @-@ 1898 issues . Since they were issued under the same Spanish provincial charter , the Bureau of Engraving and Printing classifies them as " territorial " currency , this being the only unit of exchange of this kind that is recognized by the United States Department of the Treasury . 

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 In Puerto Rico , the Sociedad Numismática de Puerto Rico ( lit . " Numismatic Society of Puerto Rico " ) was founded in 1949 . The society is usually composed of 25 to 50 members and it focuses in collecting and distributing both coins and banknotes from Puerto Rico to interested collectors . An annual exhibition along the Sociedad Filatelica de Puerto Rico ( lit . " Philatelic Society of Puerto Rico " ) has been held in Plaza Las Américas since the commercial center 's inauguration . Outside of this activity , Puerto Rican currency can be found locally in philatelic and numismatic as well as flea markets . At auctions , banknotes have been known to surpass bid that are up to 70 @,@ 000 dollars . The collection of cardboard samples given by banks to numismatic merchants , has also been noted among enthusiasts . 

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 On January 15 , 1899 , the military government changed the name of Puerto Rico to Porto Rico ( On May 17 , 1932 , U.S. Congress changed the name back to " Puerto Rico " ) and the island 's currency was changed from the Puerto Rican peso to the American dollar , integrating the island 's currency into the U.S. monetary system . The United States exerted its control over the economy of the island by prohibiting Puerto Rico from negotiating commercial treaties with other nations , from determining tariffs , and from shipping goods to the mainland on other than U.S. carriers . 

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 = Currencies of Puerto Rico = 
