U.S. Dollar Officially Replaces the Sucre

Ecuadoreans waved goodbye to their national currency, the sucre, lamenting the loss of a national symbol but also expressing optimism that the adoption of the U.S. dollar would usher in a new period of stability. While some held mock burials to protest the death of the 116-year-old sucre, other Ecuadoreans praised the Andean country’s dollarization as a way to bolster an economy on the verge of collapse last year. As of today, the dollar replaces the sucre as Ecuador’s main currency, capping the first phase of a move announced in January.