Since its adoption in 2000, the US dollar has been the official currency of which mainland South American nation?
"Fiat money as legal tender in a process known as dollarization. Examples include the adoption of the US dollar in Panama, Ecuador, El Salvador and Zimbabwe and the adoption of the German mark and later the euro in Kosovo and Montenegro. Hard currency Hard currency, safe-haven currency or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's ""hard"" status might include the long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank. Safe"
"Lower levels of currency cooperation have been practiced in the Americas before. Some nations such as Argentina and Brazil have at times tied their currency to the U.S. dollar. Some of them, such as Aruba, Bahamas, Barbados, and the Organisation of the Eastern Caribbean, still do. The U.S. dollar is officially accepted alongside local currencies in El Salvador (since 2001), Costa Rica, Nicaragua, Peru, Honduras, Panama, Bermuda and Barbados, although in practice two of these countries (El Salvador and Panama) are fully dollarized. In 2000, Ecuador officially adopted the U.S. dollar as its sole currency. In a few areas of"
"January 9, 2000, the administration of President Jamil Mahuad announced its intention to adopt the U.S. dollar as the official currency of Ecuador to address the ongoing economic crisis. Subsequent protest led to the 2000 Ecuadorean coup d'état which saw Mahuad's removal from office and the elevation of Vice President Gustavo Noboa to the presidency. The Noboa government confirmed its commitment to convert to the dollar as the centerpiece of its economic recovery strategy, successfully completing the transition from sucres to dollars in 2001. Following the completion of a one-year stand-by program with the International Monetary Fund (IMF) in December"
"announced its intention to adopt the U.S. dollar as the official currency of Ecuador to address the ongoing economic crisis. Subsequent protest led to the 2000 Ecuadorean coup d'état which saw Mahuad's removal from office and the elevation of Vice President Gustavo Noboa to the presidency. The Noboa government confirmed its commitment to convert to the dollar as the centerpiece of its economic recovery strategy, successfully completing the transition from sucres to dollars in 2001. Following the completion of a one-year stand-by program with the International Monetary Fund (IMF) in December 2001, Ecuador successfully negotiated a new $205 million stand-by"
"Two British dependencies also use the U.S. dollar: the British Virgin Islands (1959) and Turks and Caicos Islands (1973). The islands Bonaire, Sint Eustatius and Saba, now collectively known as the Caribbean Netherlands, adopted the dollar on January 1, 2011, as a result of the dissolution of the Netherlands Antilles. The U.S. dollar is an official currency in Zimbabwe, along with the Euro, the Pound Sterling, the Pula, the Rand, and several other currencies. Some countries that have adopted the U.S. dollar issue their own coins: See Ecuadorian centavo coins, Panamanian Balboa and East Timor centavo coins. A series of"
"East Caribbean dollar, although none of them have agreed to the treaty establishing the SUCRE and the regional payments clearinghouse. The SUCRE is named after Antonio José de Sucre, a leading figure in Latin America's independence struggle. Agreement in general terms for the currency was declared in 2009. The formal treaty establishing the regional payments clearinghouse was signed by the six Latin American presidents in Cochabamba, Bolivia, on October 17, 2009. (The former currency of Ecuador, one of the SUCRE's users, was also called the sucre, but was abandoned and replaced by the US dollar after the economic crisis in"
"provided the workforce required for industry in neighboring municipalities. San Salvador, as well as the rest of the country, has used the U.S. dollar as its currency of exchange since 2001. Under the Monetary Integration Law, El Salvador adopted the U.S. dollar as a legal tender along the colon . This decision came about as an attempt to encourage foreign investors to launch new companies in El Salvador, saving them the inconvenience of conversion to other currencies. San Salvador's economy is mostly based on the service and retail sector, rather on industry or manufacturing. San Salvador is home to the"
"The coin featured a plain edge through 2008, but starting in 2009, incused lettering was applied. The year and mint mark moved from the coin's obverse (front) to its edge. As of 2019, dollar coins are not widely encountered in U.S. commerce, except in vending machines for rides on mass transit, some pay and display machines, some laundromats, and old-fashioned slot machines. On the other hand, the Sacagawea dollar has achieved popularity in El Salvador, Ecuador and Panama, where the U.S. dollar is also the official currency. With the passage of the Native American $1 Coin Act on September 20,"
"be adopted as Ecuador's official currency, although the US dollar had already had wide informal use in Ecuador before this decision was made. The US dollar became legal tender in Ecuador on March 13, 2000, as sucre notes ceased to be legal tender on September 11, 2000. Sucre notes were exchangeable at a rate of 25,000 sucre per dollar at Banco Central until March 30, 2001. In 1884, cupro-nickel one and a half centavo coins, as well as silver half decimo coins, one and two decimo coins, sucre and half sucre coins were introduced. Centavo coins minted as denominations of"
"Dollar Dollar (often represented by the dollar sign $) is the name of more than 20 currencies, including those of Australia, Canada, Hong Kong, Jamaica, Liberia, Namibia, New Zealand, Singapore, Taiwan, and the United States, whose US dollar is also the official currency of Caribbean Netherlands, East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, Panama, and Zimbabwe. One dollar is generally divided into 100 cents. On 15 January 1520, the Kingdom of Bohemia began minting coins from silver mined locally in Joachimsthal and marked on reverse with the Bohemian lion. The coins were called ""joachimsthaler"", which"
"Belize, which is a constitutional monarchy and was known as British Honduras until 1981). However, the U.S. never acted on these proposals from some U.S. politicians; some of which were never delivered or considered seriously. In 2001, El Salvador adopted the U.S. dollar as its currency, while Panama has used it for decades due to its ties to the Canal Zone. In 1854 the Ostend Manifesto was written, outlining the rationale for the U.S. to purchase Cuba from Spain, implying taking the island by force if Spain refused. Once the document became published many northern states denounced the document. In"
"he insisted that ""integration with Central America and strengthening relations with North America will be the priority of our foreign policy"". Funes has also promised to keep the U.S. dollar as El Salvador's official currency (dollarization took place in 2001 under President Francisco Flores Pérez). Since coming to power, Funes' administration has implemented a wide range of social reforms designed to combat poverty and inequality, including the institution of various poverty alleviation programs in the most impoverished communities, the abolition of public health care fees, the introduction of free shoes, meals and uniforms for schoolchildren, the distribution of property titles"
"of political and social unrest. Indigenous and poor Ecuadorans staged massive protests when the Jamil Mahuad government decided to adopt the U.S. dollar as the national currency in 2000. Gutiérrez disobeyed the government's order to repress the protestors and instead, together with fellow officers and their troops, joined the movement to depose president Mahuad. Days later, the Ecuadoran Congress deposed the president and the vice-president took the presidential chair Gutiérrez entered the national spotlight during the 2000 Ecuadorian coup d'état that unseated President Jamil Mahuad for three hours and forced him to abandon office after demonstrations in Quito by thousands"
"and Colombia. Haiti joined SICA in 2013 as an associate member, and the Dominican Republic became a full member on 27 June 2013. The Central American Bank for Economic Integration has not introduced its own common currency, and dollarization is possible. However, for formal purposes the US Dollar is sometimes referred to as ""Central American Peso"" pegged 1:1 to the Dollar. There are no coins or notes in this currency and it is little known outside of legal circles. Central America is increasing its regional economic development, accelerating its social, political and economic integration. The region has diversified output and"
"amount estimated to satisfy the demand for twelve years. Despite their unpopularity in the United States, the coins have proven popular for commerce in El Salvador and Ecuador, nations that use the United States dollar. Besides the annual proof and uncirculated sets, Sacagawea dollars with special finishes have also been inserted into several mint packages. These include the following: Sacagawea dollar The Sacagawea dollar (also known as the ""golden dollar"") is a United States dollar coin that has been minted every year since 2000, although not released for general circulation from 2002 to 2008 and again from 2012 onward due"
"losing 75% of its value against the U.S. dollar from the start of 1999 until the first week of January 2000. Shortly thereafter, Ecuadorian President Jamil Mahuad resurrected the dollarization idea. On January 9, 2000, he announced that Ecuador would abandon the sucre and officially adopt the U.S. dollar, putting an end to Ecuador's high inflation. In 2001, Hanke was appointed Adviser to Ecuador's Minister of Finance and Economy, to assist with the implementation of dollarization. In 2003, Hanke was awarded the honorary degree Doctor of Arts, ""Honoris Causa"" by the Universidad San Francisco de Quito, and in 2004, he"
"Sucre depreciated rapidly at the end of 1999, resulting in widespread informal use of U.S. dollars in the financial system. As a last resort to prevent hyperinflation, the government formally adopted the U.S. dollar in January 2000. The stability of the new currency was a necessary first step towards economic recovery, but the exchange rate was fixed at 25,000:1, which resulted in great losses of wealth. The severe effects of the financial crisis were especially visible in Ecuador because of the preexisting problems of poverty and national inequality. The general economic uncertainty resulted in loss of jobs and wealth, which"
"Currency of Ecuador The article provides a historical summary of the currency used in Ecuador. The present currency of Ecuador is the United States dollar. Quito was part of Gran Colombia until 1830 as ""Departamento del Sur"". Gran Colombia's monetary regulations retained the old Spanish colonial system, with both milled and hammered coin circulating. Gold and silver were minted at Popayán and Bogotá, copper at Caracas. On July 28, 1823, Bolívar authorized a mint at Quito, but almost a decade would pass before one opened there. Cobs (macuquina) were ordered withdrawn in 1826, but because of the lack of other"
"financial derivatives valued at $2.7M. Having this hard currency buffer to work with, the Salvadoran Government undertook a monetary integration plan beginning 1 January 2001, by which the U.S. dollar became legal tender alongside the colón, and all formal accounting was undertaken in U.S. dollars. This way, the government has formally limited its possibility of implementing open market monetary policies to influence short term variables in the economy. Since 2004, the colón stopped circulating and is now never used in the country for any type of transaction; however some stores still have prices in both colons and U.S. dollars. In"
"Salvador's economy has historically been dominated by agriculture, beginning with the indigo plant (""añil"" in Spanish), the most important crop during the colonial period, and followed thereafter by coffee, which by the early 20th century accounted for 90 percent of export earnings. El Salvador has since reduced its dependence on coffee and embarked on diversifying the economy by opening up trade and financial links and expanding the manufacturing sector. The colón, the official currency of El Salvador since 1892, was replaced by the U.S. dollar in 2001. , El Salvador ranks 12th among Latin American countries in terms of the"
"South American economic crisis of 2002 The South American economic crisis is the economic disturbances which have developed in 2002 in the South American countries of Argentina, Brazil and Uruguay. The Argentinian economy was suffering from sustained deficit spending and an extremely high debt overhang, and one of its attempted reforms included fixing its exchange rates to the US dollar. When Brazil, as its largest neighbor and trading partner, devalued its own currency in 1999, the Argentinian peg to the US dollar prevented it from matching any of that devaluation, leaving its tradeable goods to be less competitive with Brazilian"
"1998–99 Ecuador financial crisis The 1998-1999 Ecuador financial crisis was a period of economic instability that resulted from a combined banking crisis, currency crisis, and sovereign debt crisis. Severe inflation and devaluation of the Ecuadorean Sucre lead to President Jamil Mahuad announcing on January 9, 2000 that the US dollar would be adopted as the national currency. Poor economic conditions and subsequent protests against the government resulted in the 2000 Ecuadorian ""coup d’état"" in which Jamil Mahuad was forced to resign and was replaced by his Vice President, Gustavo Noboa. Throughout the 20th century, Ecuador was one of the poorer"
"""Arias Seven-Day"" notes escaped incineration. Panamanian balboa The balboa (sign: B/.; ISO 4217: PAB) is, along with the United States dollar, one of the official currencies of Panama. It is named in honor of the Spanish explorer/conquistador Vasco Núñez de Balboa. The balboa is subdivided into 100 ""centésimos"". The balboa replaced the Colombian peso in 1904 following the country's independence. With the exception of a fluctuation in 2016, the balboa has been tied to the United States dollar (which is also legal tender in Panama) at an exchange rate of 1:1 since its introduction and has always circulated alongside dollars."
"Eastern Caribbean dollar The Eastern Caribbean dollar (symbol: $; code: XCD) is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed since 1965, and it is normally abbreviated with the dollar sign ""$"" or, alternatively, ""EC$"" to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar since 7 July 1976, and the exchange rate is US$1 = EC$2.70. Six of the states using the EC$ are"
"its currency. The national currency, the ekwele, had previously been linked to the Spanish peseta. The discovery of large oil reserves in 1996 and its subsequent exploitation contributed to a dramatic increase in government revenue. , Equatorial Guinea is the third-largest oil producer in Sub-Saharan Africa. Its oil production has risen to , up from 220,000 only two years earlier. Forestry, farming, and fishing are also major components of GDP. Subsistence farming predominates. The deterioration of the rural economy under successive brutal regimes has diminished any potential for agriculture-led growth. In July 2004, the United States Senate published an investigation"
"Antigua dollar Antigua and Barbuda are actually two separate islands which operate as one country. Along with many other countries of the Caribbean, they use the East Caribbean dollar as their official currency, which was first brought into circulation in 1965 to replace the British West Indies dollar. The history of currency in the British colony of Antigua closely follows that of the British Eastern Caribbean territories in general and it should not be considered in isolation. The article British West Indies dollar deals with the general history of currency in the region. Even though Queen Anne's proclamation of 1704"
"presented in a vertical format. Eastern Caribbean dollar The Eastern Caribbean dollar (symbol: $; code: XCD) is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed since 1965, and it is normally abbreviated with the dollar sign ""$"" or, alternatively, ""EC$"" to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar since 7 July 1976, and the exchange rate is US$1 = EC$2.70. Six of the"
"year. The Legislative Assembly convened again, appointing Peronist Senator Eduardo Duhalde of Buenos Aires Province, who had been the runner-up in the 1999 race for the presidency. In January 2002, after much deliberation, Duhalde abandoned the fixed exchange rate that had been in place for ten years. In a matter of days, the peso lost a large part of its value in the unregulated market. A provisional ""official"" exchange rate was set at 1.4 pesos per US dollar. In addition to the ""corralito"", the Ministry of Economy dictated the ""pesificación""; all bank accounts denominated in dollars would be converted to"
"surpassing face value and the resulting coin shortages. Following the demise of Trujillo all banknotes afterwards dropped references to the capital city Ciudad Trujillo which had reverted to its old name, Santo Domingo. Banknotes currently in circulation are 50, 100, 200, 500, 1000 and 2000 pesos oros. The 10 and 20 peso denomination bills have been replaced with 10 and 25 coins respectively in 2005. In 2010, a new 20 pesos oro polymer banknote was released. Limited editions of the 500 and 2000 peso oro notes were issued for the 1992 500th anniversary of the discovery of the Americas and"
"Journalism cited his name in the list of politicians named in ""Paradise Papers"" allegations. Carlos Quintanilla Schmidt Carlos Quintanilla Schmidt (born 5 August 1953 in San Miguel) is a former vice president of El Salvador under Francisco Flores from 1999 to 2004. Quintanilla and Flores were known as the ""dollarizers"" (""dolarizadores""), having introduced the use of the U.S. dollar as the official currency of the country. Quintanilla's successor was Ana Vilma de Escobar. He has a degree in banking from American University, and a degree in law from José Matías Delgado University. Additionally, he served as vice-rector of José Matías"
"Carlos Quintanilla Schmidt Carlos Quintanilla Schmidt (born 5 August 1953 in San Miguel) is a former vice president of El Salvador under Francisco Flores from 1999 to 2004. Quintanilla and Flores were known as the ""dollarizers"" (""dolarizadores""), having introduced the use of the U.S. dollar as the official currency of the country. Quintanilla's successor was Ana Vilma de Escobar. He has a degree in banking from American University, and a degree in law from José Matías Delgado University. Additionally, he served as vice-rector of José Matías Delgado University. In November 2017 an investigation conducted by the International Consortium of Investigative"
"use SUCRE, the currency of this organization. Vietnam has been invited to join as an observer. In the eleventh Summit of ALBA in February 2012, Suriname, St. Lucia and Haiti requested admission to the organization. Haiti was granted the special status of permanent member and the other two countries were named special members, while awaiting their full incorporation. President Chávez was honored posthumously by the nine member countries of the group and special guests Uruguay, Argentina, Brazil, Suriname, Guyana and Haiti at the group's 12th Presidential Summit in Guayaquil, Ecuador. Ecuador withdrew from ALBA in August 2018. In October 2009,"
"policy limits the ability of the central bank to control interest rates and stimulate the economy when needed. Notes: 1. Mexican peso values prior to 1993 revaluation 2. Value at the start of the year Sources: Other main currencies United States dollar The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its territories per the United States Constitution since 1792. In practice, the dollar is divided into 100 smaller cent (¢) units, but is occasionally divided into 1000"