What kind of money do they use in Ecuador?

What kind of money do they use in Ecuador?

Here are a few of the most common questions on the Ecuadoran economy. You may be surprised to learn that Ecuador uses the U.S. dollar as their currency. This came about in the year 2000 when their own currency, the “sucre,” took a nosedive due to a financial crisis.

When did Ecuador start using the US dollar?

You may be surprised to learn that Ecuador uses the U.S. dollar as their currency. This came about in the year 2000 when their own currency, the “sucre,” took a nosedive due to a financial crisis.

How much does it cost to stay in Ecuador?

In the countryside, you’ll find the costs even lower. Hotel rooms cost around $20 a night on the budget end to high-end luxury accommodations for around $400 a night. Long-term rentals start at $400 a month in cities like Quito or Cuenca. Overall, Ecuador is one of the best valued in South America.

How much is 1 US dollar in Ecuador?

1 USD is equivalent to 25000 ECS. This Ecuadorian Sucre and United States Dollar convertor is up to date with exchange rates from November 26, 2019. Enter the amount to be converted in the box to the left of Ecuadorian Sucre. Use “Swap currencies” to make United States Dollar the default currency.

When did Ecuadorian sucres change to US dollars?

It was replaced with the United States Dollar (USD) on September 15, 2000. 1 USD is equivalent to 25000 ECS. This Ecuadorian Sucre and United States Dollar convertor is up to date with exchange rates from November 26, 2019.

When did the US dollar become legal tender in Ecuador?

Conversion: 1 US dollar = 25,000 sucres. The US dollar became legal tender in Ecuador on March 13, 2000, and sucre notes ceased being legal tender on September 11. [citation needed] Sucre notes remained exchangeable at Banco Central until March 30, 2001, at 25,000 sucres per dollar. [citation needed] Ecuador now only issues its own centavo coins.