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The sucre was the official currency of Ecuador until 2000. At that time, in response to a major financial crisis, the country switched its currency to the US dollar.
The sucre was divided into 100 centavos. It was named after Antonio José de Sucre.
Common denominations used throughout the 1980s and 1990s ranged from 5 to 50,000 sucres resulting from the rapid inflation experienced during this time.
Some notable appearances on various paper currencies include Eloy Alfaro, who appears on the 50,000-sucre bill, Dr. Eugenio de Santa Cruz y Espejo, appearing on the 500-sucre bill, and Simón Bolívar, shown on the 100-sucre bill.
Historic exchange rates (sucres per USD):
- 24,860.7 (January 2000)
- 11,786.8 (1999)
- 5,446.6 (1998)
- 3,988.3 (1997)
- 3,189.5 (1996)
- 2,564.5 (1995)
See also: Economy of Ecuador
External link
- IMF working paper (http://www.imf.org/external/pubs/ft/wp/2004/wp0412.pdf) on the financial crisis.
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