Title: El Salvador’s Currency: US Dollars ($) | Imperfect Plan
Headings: El Salvador’s Currency: US Dollars ($)
El Salvador’s Currency: US Dollars ($)
Why the United States Dollar is Used as El Salvador’s Currency
The Benefits to foreigners with US Dollars
What was the El Salvador Colón?
Do I need to exchange my money for Colóns?

Content: Latin countries often rely on tourism as a source of revenue and a large number of visitors come from the United States. By switching to the US Dollar, these countries help visitors to avoid the annoyances of exchanging dollars, paying exchange rates and losing money due to potential misunderstandings in money exchange rates. Other countries in Central America, such as Panama, have also become dollarized. Dollarization is the process of transitioning a countries currency from their own national currency to the United States Dollar. What was the El Salvador Colón? The Colón of El Salvador was a currency that was used between 1892 and 2001. Although the Colón has not officially ceased to be legal tender, it’s no longer in circulation in El Salvador and it’s not available for exchange. Before the Colón, El Salvador used the Peso. However, that was changed in 1892 when President Carlos Ezeta decided to rename the currency to the Colón. Later, the Colón stopped being used and the United States Dollar became the official money of the small nation.