Ecuador Money And Exchange Rates

Ecuador has the US dollar as its official currency. It has the same dollar symbol and the same hundred cents which make up the dollar. In fact, the currency notes are also the same.

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The only difference we can see is in the cents. In addition to the US cents, the Ecuador currency also has Ecuadorian centavos, which have the same value thankfully.  Otherwise, it could confuse the tourists.

The currency exchange rates as seen on October 9, 2009 in respect to one British Pound was USD1.59, and one Euro equaled USD1.46. 

Although the currency and the value is the same as that of US Dollars, the Ecuadorian Dollars is a recent amendment. From 1884 to 2000, the official currency of the Ecuador was the Sucre. The ISO code was ECS. One Sucre was divided into 100 centavos or 10 decimos. However, it took awhile for Ecuadorians to make the complete transition from Sucres to Dollars. Merchants found it difficult to make transactions as there were not enough Dollars and Cents available to the common man.

So, even if Ecuador money has no value any longer, it has been replaced by one of the major players in the Forex market. That has kept its economy as stable as the US economy, and its industry, which saw a sharp decline before 2000, was able to make up and establish a more secure financial system. 

           This makes it easy for a native of Ecuador to trade in Forex and vice versa.

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• Sites Where I Can See Exchange Rates
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• What Are Currency Exchange Rates ?
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