Before traveling to Ecuador one thing you will need to prepare and investigate to ensure a smooth trip is local money. Read on for some handy Ecuador currency information, and travel money tips.
Many people are surprised to learn that Ecuador is one of just three countries in the world to use the US dollar (USD) as its official currency, the other two being Panama and of course the USA.
For most travelers this is great news as it makes Ecuador an easy destination for travel money planning, just bring your own dollars and there is no need for any currency exchange.
Ecuador switched to the US dollar from the Ecuadorian Sucre back in 2000. Before the change, the inflation rate became so high that it took 25,000 Sucres to equal 1 dollar, and caused significant problems for Ecuadorian workers and savers.
The currency change has brought greater stability overall to Ecuador, but with the downside that the country has less control over its economy.
While using the US dollar makes things easier, there are considerations to be aware of as far as Ecuador’s money goes. Cash is still king in the country while credit cards have seen a steady increase in use with the stability of the networks. When on the road or exploring cities, here are a few things to remember.
As stated earlier, credit card networks are available in Ecuador. More restaurants and stores are accepting cards but there are some things to consider.