The Currency of Ecuador – United States Dollar

Comparte. ¡Alguien más puede estar buscando una experiencia real!

The official currency of Ecuador is the US dollar.

If you are travelling to the country, it is preferable to carry low denomination bills of USD 20 or less.

In addition for higher value banknotes it is recommended to exchange your money at any bank agency.

Coins up to 50 cents have an equivalent local version that is also used.

On the front of the coin clearly expresses the amount it represents, on the back is the image and name of some historical character.

Probably, there are ATMs in almost every city and town in the country where you can withdraw your money in dollars.

Maybe if you move away from the main cities it will be harder to find them.

Credit or debit cards are accepted in formal merchants as alternatives to cash.

Ecuador a dolarized country

The dollar has been Ecuador’s official currency since 2000.

The dolarization in Ecuador helped stabilize the country’s economy by reducing inflation levels.

People’s perception of the stability of the dollar helped its rapid adoption and is one of the main causes why it remains for more than twenty years.

Ecuadorian version of the coins

The 50-cent coin includes the image and name of Eloy Alfaro President of the Republic of Ecuador on two occasions comprising from 1897 to 1901 and from 1906 to 1911.

José Joaquín de Olmedo who after the creation of the State of Ecuador in 1830 was the first vice president of the country during the first presidency of Juan José Flores. Its image and name is part of the 25 cent coin.

The 10 cent coin includes the image and name of Eugenio Espejo.

Most notable of Espejo was that he was prominent researcher, scientist, physician, historian, writer, lawyer, journalist, thinker, ideologue, politician and procerof the independence of Ecuador.

Juan Montalvo was an Ecuadorian essayist and novelist of liberal thought, he was the main opponent of the governments of Gabriel García Moreno and Ignacio de Veintimilla.

Your image is on the 5 cent coin.

The 1 cent coin includes the phrase «Light of America» referring to the first scream for independence from the revolutionary process given in Quito.

Published on: 2019-12-10  -  Filed under: Lifestyle  -  Tagged: