US Dollar was accepted as the national currency of Ecuador on January, 2000, thereby replacing Sucre, the initial Ecuador Currency. It was nationally adopted in Ecuador from September, 2000.
Important Details about Ecuador Currency
According to the current currency conversion rate of Ecuador, 25000 Sucre is equal to 1 US dollar. The money that is circulated includes notes and coins. Notes are of the denominations of US$100, 50, 20, 10, 5, 2 and 1 while the coins are found in denominations of US$1 and 50, 25, 10, 5 and 1 cent.
Other valuable information about Ecuador Currency
It is important to know that in Ecuador, the exchange of Foreign Currencies is generally made in the exchange houses and banks. In the main cities of the country such as Quito, Guayaquil and Cuenca, the travelers can exchange their currencies and checks conveniently. ATMs are also available in almost all parts of the country. One important thing to be noted about the exchange of foreign currencies in Ecuador is that there are absolutely no restrictions of the import or export of foreign currencies. Credit cards, mainly Visa and Master Cards are also easily accepted in Ecuador.
US Dollar was adopted as Ecuador Currency with the aim of affecting some improvement in the economic condition of the country, thereby accelerating the process of poverty elimination.