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LOCAL CURRENCY IN ECUADOR

Need to know waht is the local currency in Ecuador? The local money in Ecuador is called Dollar.

The Ecuadoran Dollar is issued and managed by the Federal Reserve System. To find out the current currency exchange rates for Dollar to other major currencies of the world, click on foreign currency rates.

Ecuadoran Currency Information
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The currency used in Ecuador is called as the Dollar. This currency is denoted with the currency sign $ and the ISO 4217 Code for the Ecuadoran Dollar is USD. The Dollar, is the official currency of the Ecuador . It is divided into 100 smaller units called Cent.

The constitution of Ecuador provides that the Ecuador government shall have the power to print the Ecuadoran Dollar and Cent coins to be used as a legal tender in Ecuador. The Ecuadoran Dollar bank notes and Cent coins are both designated as "legal tender" in payment of debts.

The Ecuadoran Dollar bill uses the decimal system, consisting of 100 equal units.

The symbol $, usually written before the numerical amount, is used for the Ecuadoran Dollar.

Currently printed bank notes denominations are $1, $5, $10, $20, $50, $100 $2, $500, $1,000, $5,000, $10,000, $100,000 and the coins are minted in the denominations of 1¢, 5¢, 10¢, 25¢ 50¢, $1.

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The Effect of Balance of Trade and Investment on the Value of Ecuadoran Dollar
Financial analysts regularly cite the balance of trade and investment in Ecuador as the most important influence on the value of the Dollar. The difference between what the Ecuador exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Dollar exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Dollar exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Ecuadoran Dollar.
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