Lydia P. Says:
Can I use American dollars in Ecuador?
IL Executive Editor Jennifer Stevens Says
Hi Lydia,
Yes, you can certainly use American dollars in Ecuador. Not only are they accepted, they’re official currency for the country. This makes it very easy for American tourists because there’s no currency exchange and no wondering if you accidentally paid triple for your coffee because you didn’t know the value of the money.
The dollar has been Ecuador’s official currency since March 13, 2000. It was adopted following a financial crisis.
Ecuador’s banking system collapsed in the late 1990s, and many citizens saw their assets vanish overnight. The national currency, called the sucre, was replaced with the U.S. dollar to stabilize the economy.
To lessen the chance that such a devastating event ever happens again, the Ecuadorian government put more stringent regulations in place, and the system appears to be strong, diverse, and solvent.
You can learn much more about Ecuador on the dedicated resource pages of our website.
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