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Micronesia Currency is US Dollar. Abbreviated as USD or US $, the most common symbol of US Dollar is $. It serves as the official currency of the Federated States of Micronesia and is used in all transactions. One US Dollar is divided into 100 cents.
The four states comprising the Federated States of Micronesia signed a Compact of Free Association with the United States of America in 1986. According to the Compact, the USA is responsible for the security and defense of Micronesia as well as provide financial assistance to the nation.
The sub- units of US Dollar, the currency of Federated States of Micronesia, are dime, cents and Mill. The most frequently used notes of US Dollar are $1, $5, $10 and $20. It is the currency accepted in all the states of Micronesia. The exchange rate of US Dollar is 1 USD= 0. 705566 Euro.
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