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| *Travel Tips>>>Ecuador Travel Tips |
Does any1 no the types of money that they use in ecuador & the names of it!!? |
Travel Info Does any1 no the types of money that they use in ecuador & the names of it!!? Travel Tips The answer is Pesos. I am personally Ecuadorian. All hispanic people rock. Others They used to call it the Sucre On January 9, 2000, the administration of President Jamil Mahuad announced its intention to adopt the U.S. dollar as the official currency of Ecuador to address the ongoing economic crisis. The formal adoption of the dollar as currency on September 10, 2000, as opposed to pegging the local currency to it, as Argentina has done, theoretically meant that the benefits of seigniorage would accrue to the U.S. economy. Subsequent protest related to the economic and financial crises led to the removal of Mahuad from office and the elevation of Vice President Gustavo Noboa to the presidency. However, the Noboa government confirmed its commitment to dollarize as the centerpiece of its economic recovery strategy. The government also entered into negotiations with the International Monetary Fund (IMF), culminating in the negotiation of a twelve-month stand-by arrangement with the Fund. Additional policy initiatives include efforts to reduce the government's fiscal deficit, implement structural reforms to strengthen the banking system and regain access to private capital markets its US currency now. So its a dollar. |
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