Vanuatu Vatu (VUV)

Vanuatu Vatu (VUV) Basic Concepts

The Vanuatu Vatu (VUV) is the official currency of Vanuatu with the currency code VUV, issued and managed by the Reserve Bank of Vanuatu, and is used primarily for day-to-day transactions and economic activities in the country.

Countries where the Vanuatu Vatu is used

The Vanuatu Vatu is only used in the Republic of Vanuatu, an island nation located in the South Pacific Ocean consisting of about 80 islands, and the currency is circulated in all regions of the country.

Vanuatu Vatu Units and Denominations

The Vanuatu Vatu is divided into coins and banknotes, with coin denominations including 1, 2, 5, 10, 20, and 50 Vatu, while banknotes are available in denominations of 100, 200, 500, 1,000, 2,000, 5,000, and 10,000 Vatu, with no fractional units.

Historical Background of Vanuatu Vatu

The vatu replaced the New Hebrides franc as Vanuatu's legal tender after independence in 1982, reflecting the country's transition from an Anglo-French condominium colony to an independent state, with the aim of strengthening its economic autonomy.