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The ISO 4217 currency code for the Ecuadorian Sucre.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
ISO 4217 code for the Ecuadorian sucre, which was the currency of Ecuador between 1884 and 2000. Originally based on gold, it was placed on a crawling peg to the U.S. dollar in 1983. In 1999, it lost two-thirds of its value, and fell 17% in the first week of 2000. This prompted President Jamil Mahuad to replace the sucre with the dollar as the national currency. Sucres ceased to be legal tender in September 2000 and became unexchangeable in March 2001.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved