What Was Ecuador's Money Before The Dollar
Ecuador Currency
E'er wonder what we pull out of our pocket to pay for stuff in Ecuador?
Republic of ecuador currency....the US DOLLAR.
It was so strange; I left the land for a few months to detect that they'd thrown all their money in the trash (not literally of course) and switched to the money I've known my whole life.
We arrived in Ecuador in 1997. At that time the Ecuador sucre wasn't fairing too well. The value quickly diminished.
At the beginning of 1997 nosotros were getting iv,000 sucres for every dollar we exchanged. By 1999/2000 information technology was up to 25,000 sucres for every dollar.
For those of united states who had dollar accounts, life was adept. Since the dollar was much more stable, we did not have currency that was losing value every mean solar day. But prices of food and our hire contracts were in sucres. Because the people of Republic of ecuador merely had sucres, the prices of everyday things could not be hiked at the same rate as the devaluation of the sucre. This was in our favor, peculiarly when it came to hire.
At one place nosotros signed a rent contract for 800,000 sucres which was 200 dollars. Past the time we moved out, a year after we were only paying 75 dollars.
Ecuadorian Sucres - Used until 2000 - When we arrived in 1997 only the bottom 2 were in use.
But for the poor Ecuadorian people who were being paid sucres, things were hard. There was nothing to end food and other services from being affected past the inflation. And the Ecuadorian wages rarely, if ever kept up.
A change...
In 2000, the president decided the mode to become was with the US dollar. Supposedly a more than stable currency. The people went crazy and he was thrown out of function. Only the vice president who replaced him decided to go ahead with "dollarization."
So I arrived to find dollars everywhere. Since then the economy has been more than stable. For once a crazy idea that seemed to piece of work.
The dollar bills used are identical to what you lot would find in the United states. The alter is a mix of U.s. coins and an Ecuadorian version of the coins. Information technology's kind of funny to see a quarter with someone else's caput on it. I all the same accept to sort through my change when in the Usa to make sure I don't put an Ecuadorian quarter into the vending automobile.
Even with the change to the dollar, things are relatively inexpensive compared with back dwelling house. An avocado for 75 cents or less in Ecuador compared with $1.00 or more in the Us (depending on the season), a great buy!
The old Republic of ecuador currency, the sucre, can even so be found on the streets and souvenir shops. People have gathered the old bills -which have really pretty pictures on them- and now sell them to tourists.
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Source: https://www.life-in-ecuador.com/ecuador-currency.html
Posted by: elliscrintel.blogspot.com
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