Vanuatu, an island nation in the South Pacific Ocean, is made up of approximately 80 islands stretching for 1,300 kilometers. The Republic of Vanuatu's national currency is the Vanuatu Vatu (VUV). It was introduced in 1981 and replaced the New Hebrides franc. The currency doesn't have a subunit and is usually represented with the Vt symbol. The vatu is unlike most currencies since it's not issued in subdivisions like cents. Rather, it has coins issued in denominations of 1, 2, 5, 10, 20, 50, and 100 vatu. Meanwhile, its banknotes are issued in denominations between 200 vatu and 10,000 vatu.
Vanuatu residents sometimes use one “dollar” to refer to 100 vatu, and even though it has no official exchange rate proportional to the dollar, this reference continued being popular with locals because historically, the vatu has traded at a ratio of around one U.S. dollar (USD) per 100 vatu. Bigger transactions are accordingly frequently priced in “dollars”, such as saying a 100,000-vatu purchase is worth “one-thousand dollars”. The country's coins are all stamped with the Vanuatu coat of arms, featuring the portrait of a traditional Melanesian warrior. The Royal Australian Mint mints the coins, while Vanuatu’s central bank, the Reserve Bank of Vanuatu controls the currency.