Basic Data:

• Country ISO Code: VU

• Official Languages: Bislama, English, French

• Language ISO Codes: bis (Bislama), en (English), fr (French)

• Current Official Currency: Vanuatu Vatu

• Currency ISO Code: VUV

Currency History and Details:
The Vanuatu vatu (VUV) has been the official currency since the country’s independence in 1980, replacing the New Hebrides franc and the Australian dollar previously used during the condominium period jointly administered by France and the United Kingdom. The vatu was introduced to unify the monetary system and assert national sovereignty.

Currency Characteristics:

• ISO Code: VUV

• Symbol: VT or Vt

• Subdivision: The vatu is not subdivided into smaller units.

• Issued by: Reserve Bank of Vanuatu

Coins:

• Coin denominations include 1, 2, 5, 10, 20, 50, and 100 vatu.

• Coins feature cultural motifs, native flora and fauna, and national symbols.

Banknotes:

• Banknotes are issued in denominations of 200, 500, 1,000, 2,000, 5,000, and 10,000 vatu.

• Designs incorporate traditional art, important national figures, and natural heritage.

• Security features include watermarks, holograms, and intricate patterns.

Production and Minting:

• Banknotes and coins are produced by international mints and printing companies.

• The Reserve Bank of Vanuatu manages issuance and monetary policy.

Economic Context:

• The vatu replaced the dual currency system to stabilize the economy post-independence.

• Vanuatu’s economy relies on agriculture, tourism, and offshore financial services.

• Inflation has been relatively stable, with the vatu floating against major currencies.

Current Circulation Status:

• The vatu is the sole legal tender and actively circulates throughout Vanuatu.

• Both coins and banknotes are widely used.

Issuing Authority:

• Reserve Bank of Vanuatu

Legislation:

• Currency issuance and regulation are governed by the Reserve Bank of Vanuatu Act and related financial laws.

Signatories on Banknotes:

• Banknotes bear the signatures of the Governor of the Reserve Bank and the Minister of Finance.

Persons and Symbols Featured:

• Banknotes feature national heroes, cultural symbols, and natural landmarks.

• Coins display traditional motifs and native species.

Summary of Coins and Banknotes in Circulation:

This report provides a comprehensive overview of the Republic of Vanuatu’s financial history, emphasizing the introduction of the vatu as the national currency post-independence, its design features, economic context, and current status as the sole legal tender.