Basic Data:

• Country ISO Code: MH

• Official Languages: Marshallese and English

• Language ISO Codes: mh (Marshallese), en (English)

• Current Official Currency: United States Dollar

• Current Currency ISO Code: USD

Complete Financial History of the Marshall Islands and Currency:

Official Currency: United States Dollar (USD)

• Currency ISO Code: USD

• Designs / Symbols: The US dollar features portraits of former US presidents and founding fathers on banknotes, and various national symbols such as the bald eagle on coins. The currency symbol is "$".

• Singular Name: dollar

• Plural Name: dollars

• Monetary Subdivision: 1 dollar = 100 cents

• Fraction Name Singular: cent

• Fraction Name Plural: cents

• Initial Production Date: The US dollar was introduced in the late 18th century; adopted as official currency in the Marshall Islands upon independence in 1986.

• End Production Date: still in circulation

• Initial Circulation Date in Marshall Islands: 1986

• End Circulation Date: still in circulation

• Mint: United States Mint (various locations)

• Issuing Bank: United States Department of the Treasury

• Coin Denominations Currently Minted: 1, 5, 10, 25, 50 cents; 1 dollar coins (various commemorative and standard issues)

• Banknote Denominations Currently Issued: 1, 2, 5, 10, 20, 50, 100 dollars

Historical and Economic Context:

• The Marshall Islands were administered by the United States under a United Nations trusteeship after World War II until independence in 1986.

• Upon independence, the Marshall Islands adopted the US dollar as its official currency under a Compact of Free Association with the United States.

• The use of the US dollar facilitates trade and economic stability, given the close political and economic ties between the Marshall Islands and the US.

• The Marshall Islands does not issue its own currency and relies entirely on the US dollar for all monetary transactions.

• The economy depends on fishing, aid from the US, and limited commercial activities.

Mints / Production Locations:

• Coins and banknotes are produced by the United States Mint and Bureau of Engraving and Printing.

Designs / Symbols on Coins and Banknotes:

• US currency features historical American figures, national symbols, and landmarks.

Current Circulation Status:

• The US dollar is the official and sole legal tender currency circulating in the Marshall Islands.

Issuing Authority:

• United States Department of the Treasury issues and regulates the currency.

Relevant Monetary Legislation:

• Compact of Free Association between the Marshall Islands and the United States governs monetary arrangements.

Persons Honored on Banknotes and Coins:

• US presidents and founding fathers such as George Washington, Abraham Lincoln, Alexander Hamilton, and others appear on the currency used in the Marshall Islands.

Summary of Coins and Banknotes Currently in Circulation in the Marshall Islands:

This report summarizes the financial history of the Marshall Islands, emphasizing its use of the US dollar as official currency since independence, with no separate national currency issued.