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The sucre lost 67% of its foreign exchange value during 1999, then in one week nosedived 17%, ending at 25,000/US$1 on January 7, 2000. On January 9, President Jamil Mahuad announced that the US dollar would be adopted as Ecuador's official currency.
Ecuadorian centavo coins were introduced in 2000 when Ecuador converted its currency from the sucre to the U.S. dollar. [1] The coins are in denominations of 1, 5, 10, 25 and 50 centavos and are identical in size and value to their U.S. cent counterparts (although the U.S. 50-cent coin counterpart is not often seen in circulation).
The Sucre (Spanish pronunciation:) was the currency of Ecuador between 1884 and 2000. Its ISO code was ECS and it was subdivided into 10 decimos and 100 centavos. The sucre was named after Latin American political leader Antonio José de Sucre. The currency was replaced by the United States dollar as a result of the 1998–99 financial crisis.
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
(Local Currency) Net (Local Currency) Net (US$) Canada: CAD 6,639 [1] CAD 4,712 [2] ... Ecuador: USD 514 [16] $514 El Salvador: USD 425: $425 [17] Guatemala: GTQ ...
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Central Bank of Ecuador Banco Central del Ecuador Headquarters: Quito: Established: August 10, 1927; 97 years ago () Ownership: 100% state ownership [1] Key people: Guillermo Avellán Solines: Central bank of: Ecuador: Currency: None 1: Reserves: 8,458.7 million USD (December 2022) Website: www.bce.fin.ec: 1 Previously Ecuadorian sucre (ECS ...
By buying-back over $1.5 billion of its discounted existing bonds with cheaper new money, Ecuador will realise almost half a billion dollars of savings over a 17-year period to invest in ...