what type of money do they use in puerto rico
Foreign and provincial currencies
Currencies of Puerto Rico
foreign and provincial currencies
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Currencies of Puerto Rico [SEP] Introduction
The currencies of Puerto Rico closely follow the historic development of Puerto Rico. As a Province of Spain (Autonomous Community) and a territory of 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.