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: Therefore the government of El Salvador decided to use a currency that was more widely accept globally in order to make trade easier. They chose the United States. Although fiat currency is a relatively simple concept, there is a lot that happens behind the scene to maintain the integrity of a country’s monetary system. Additionally, the money that country chooses to use in trade has a direct impact on trade deals. The Benefits to foreigners with US Dollars
Another benefit to using the United States dollar is the attraction that it offers to potential visitors and tourists. 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?