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El Salvador Money: the El Salvador Colón and the US dollar

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Money in El Salvador:

The El Salvador Colón (SVC) (USD): One unit of El Salvadoran currency used to be called the colón, divided into 100 centavos. However, in 2001, El Salvador adopted the US dollar as its official unit of currency. It represents one of the largest economies to do so, along with Panama and Ecuador.

Exchange Rate:

When the El Salvador colón was replaced by the US dollar, it had an exchange rate of 8.75 to one.

History:

The El Salvador colón, like the Costa Rica colón, was named for Christopher Columbus (Cristóbal Colón in Spanish).

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