What Is Money Called in Ecuador?

Money in Ecuador is called the dollar. In March 13, 2000, the U.S. dollar became the official currency of Ecuador, replacing the sucre.

Sucre Exchange

Sucre notes were used from 1884 until September 11 of 2000. Banco Central continued to exchange sucre notes to U.S. dollars until March 30, 2001. At that time, the exchange rate was 25,000 sucres to $1 U.S. dollar.

History

The sucre was named after Mariscal Sucre, the independence hero of Ecuador. The sucre replaced the peso, which was used since 1822.

Paper Money

All paper money in Ecuador is U.S. currency. They are issued in the same denominations that they are in the U.S.

Coins

Like the U.S. dollar, Ecuador has all the same coins that the U.S. is using. Additionally, Ecuador issued centavo coins. These coins are issued in 1, 5, 10, 25, 50 cent and $1 denominations. These are equal in value to the U.S. coins. The $1.00 centavo coin is commonly used.

Centavo coins

These coins have the numeric value written in Spanish on them along with the words "Banco Central de Ecuador." The reverse side has a portrait of an important Ecuadorian and the words "República del Ecuador." They also have the country's coat of arms. The 1 centavo coin is brass or copper in color. The rest of the coins are silver colored.

References

• Banco Central del Ecuador Museo Numismatico