Ecuador - Money

Currency & Money

Currency information:

US Dollar (USD; symbol US$) = 100 cents. Notes are in denominations of US$100, 50, 20, 10, 5, 2 and 1. Coins are in denominations of US$1 and 50, 25, 10, 5 and 1 cents. Some coins are usual US cents and some are Ecuadorean centavos. They have the same value.

Credit cards:

Major credit/debit cards are accepted in most businesses. ATMs are available at most banks in urban areas. On the Galápagos Islands, currently only Mastercard is accepted.

ATM:

ATMs are available at most banks in urban areas. Note that dirty or torn notes will not be accepted. Try to keep cash in smaller denominations; shopkeepers tend to refuse $50 and $100 bills as forgeries of these notes are common.

Travellers cheques:

Traveller's cheques are generally accepted in the larger cities and can be exchanged into currency at most banks and casas de cambio.

Banking hours:

Generally Mon-Fri 0830-1600; Sat mornings.

Currency restriction:

There are no restrictions on the import or export of local or foreign currency. However, amounts exceeding US$10,000 must be declared.

Currency exchange:

Foreign currencies can be exchanged at banks and at casas de cambio (exchange houses), the latter being generally the best option. It may be difficult to exchange money in the Oriente. The rate of commission varies between 1 to 4%, so it is worth shopping around.

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