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del.icio.us| COMMENTARY |
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Suchita Vemuri Staff Writer 25th February 2005 |
Hi Karen, you're right. In January 2000, the country adopted the US dollar as its national currency and its use was fully implemented by September 2001, a 'dollarization' process that did away with the sucre as the official currency of exchange. The sucre and its units are not totally out of use in Ecuador, but have no currency outside the country. The sucre was named after Antonio Jose de Sucre, a leader in the movement for Ecuadoran independence. Its value at the time of the 'dollarization' move was so depleted that one USD was exchanged for 25,000 sucres. |
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