Title: The countries that don't have a currency of their own — Quartz
Headings: Here are all the countries that don’t have a currency of their own
Here are all the countries that don’t have a currency of their own
Countries that only use a foreign currency
Euro: Andorra, Kosovo, Monaco, Montenegro, San Marino, Vatican City.
Countries in a currency union
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Content: “For Ecuador, adopting the dollar was a way of imposing strict fiscal discipline, in effect by turning monetary policy over to the United States Federal Reserve Board,” the New York Times reported in 2001. Defenders of dollarization in El Salvador have said it helped to prevent economic crises and attacks from speculators that have befallen countries like Mexico and Argentina—though the cost of converting from the colon to the dollar resulted in prices being round up by fractions of a dollar, creating rising costs for the poorest Salvadorans. And is the Federal Reserve going to think about El Salvador when it slashes interest rates to near zero in the aftermath of an economic crisis and starts printing money? As we saw in 2008 and beyond: Not really, no. Scotland could become the next Norway, small and oil-rich, supporters of independence say. But it could be more like the next El Salvador. That said, Ecuador chose to issue its own coins—it wanted to avoid the problems of Zimbabwe, which found it too expensive to ship huge quantities of nickels and dimes into circulation but needed much more change, as the cost of most goods had to be expressed in fractions of dollars. Zimbabwe is a special case. It abandoned its own currency in 2009 and currently has eight official currencies as legal tender: