Ecuador Currency is worldwide known and you will not have to worry about money exchange issues in this country anymore. This is because the new currency of Ecuador today is the United States American Dollars.
The Sucre was our currency until January 2000 when our government decided to switch to the American US$ Dollars to stabilize Ecuador's economy.
The currency transition at the beginning was very hard and many companies went out of business or bankrupt because of the exchange rate of $25,000 Sucres per $1 Dollar.
From one day to another, Ecuador turned out to be one of the most expensive countries in South America.
Fortunately by now in the year of 2010 Ecuador has strengthen its economy and companies, businesses and people are recovering from that initial currency transition shock.
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The bills are the same as those used in the United States but the coins are printed in Ecuador with the images of historical people of this country but they remain the same in size, weight, workmanship and color as the US coins but they are only valid within the territory of Ecuador.
US bills that circulate in Ecuador are the 5, 10, 20, 50 and 100 and the local coins are 0.01, 0.05, 0.10, 0.25, 0.50 and the 1 dollar coin. US coins, of course, are accepted as well.
With the new Ecuador currency, visitors to Ecuador will not have to deal with any exchange troubles anymore.
Some economists and business people say that the American US Dollars have helped this country in a great way to develop a stronger economy.
You can bring cash, credit card, debit card or Traveler's Checks. The best thing to do is bring a combination of plastic and cash. They are generally more accepted than Traveler's Checks.
If you would like to exchange traveler's checks for Ecuador currency, you can go to any exchange house or local bank located mostly in the main avenues of most Cities in Ecuador
Credit cards and bills also saves you a lot of waiting time in banks trying to exchange your Traveler's Checks. You can use any ATM in Ecuador with either a Plus or Cirrus debit card to withdraw cash.
ATM's can be found throughout Ecuador. Ecuador's ATM's accept most international credit cards (like Mastercard, Visa or American Express).
Most banks in Ecuador have ATM facilities which are linked up to international connecting systems that are compatible to foreigners credit cards. Using an ATM provides you with access to cash 24 hours of the day in this country.
It is also a good advice to carry Ecuador currency preferably in smaller denominations like $1, $5, $10 or $20 bills, because often the sellers of goods in small shops, stores or even at hotels will not have enough change.
The SUCRE was the former currency of Ecuador. It was named after the country's independence hero Mariscal Antonio Jose de Sucre.
The bills had different colors and used to come in bank note denominations of 5, 10, 20, 50, 100, 1,000, 5,000, 10,000 and 50,000.
The coins came in different sizes and denominations of 1, 50, 100, 500 and 1,000.
Now you can visit Ecuador in a more relaxed way without the trouble of money exchanges.
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