The euro functions as the sole legal tender in Saint Pierre and Miquelon. The Canadian dollar is also widely accepted and used. The "Institut d'émission des départements d'outre-mer" (IEDOM), the French public institution responsible for issuing currency in the overseas territories that use the euro on behalf of the Bank of France, has had an agency in Saint Pierre since 1978. The islands have issued their own stamps from 1885 to the present, except for a period between 1 April 1978 and 3 February 1986 when French stamps not specific to Saint Pierre and Miquelon were used.