Colon el Salvador (US dollar)
- Monetary unit:
- the Country code:
- El Salvador, Republic
- US dollar
- San Salvador
- of 21 040 sq. km
- the Spanish (state)
- SV (SLV) 222
Monetary unit of El Salvador till 2004 was the colon which consisted from 100 centavo. In the cash circulation there were notes in nominal value 5, 10, 25, 50, 100 and 200 colons. On all backs of denominations Christopher Columbus's portrait (in Spanish Kristobal Colon) was seated.
In 1919 instead of silver peso (22,5 g of a fine silver) the colon has been entered. Peso interchanged on colons on a parity 1:1.
The colon gold content has been positioned in 0,7523 g of pure gold; a parity rate - 2,0 colons for 1 US dollar. Exchange of notes on gold is terminated on October, 7th, 1931
In 2001 the government of the El Salvador which has got to complete debt and military dependence on the USA still in 1950th years, has decided by 2003 completely to refuse the native currency and a currency issue. Since January, 2001 the US dollar is entered into the circulation as a leading world currency; in 2004 the colon has been completely introduced from a turn-over.
From the beginning of 2004 on the present in the country the US dollar emitted by the Federal Reserve System goes only; at the moment the Salvadorian government in any way does not supervise a monetary stock in the country.
Now in territory of El Salvador the colon has completely terminated the circulation, all bargains and official prices are made out in dollars. Some prices in private shops on a habit are exhibited both in dollars, and in colons.
It is updated 05.2012