EL SALVADOR

CURRENCY:

The US Dollar - USD, Symbol $

In 2001, US dollars were introduced to El Salvador as a dual currency but have now taken over entirely and have replaced the former currency, the Colón.

DENOMINATIONS:

NOTE: $100, 50, 20, 10, 5, 2 and 1.

COIN: $1, and 50, 25, 10, 5 and 1 cents.

US DOLLAR ACCEPTED?

Yes, this is the currency of El Salvador (see above).

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards (except Diners Club) are accepted. ATM machines can be found in major towns and cities.

CURRENCY EXCHANGE:

This is possible, but please be advised to only use official bureaux de change and banks.

TRAVELLER'S CHEQUES:

Note you will need your passport and you can cash these at any bank or hotel.

BANKING HOURS:

Mon-Fri 0900-1700 (closed lunchtimes) There are some banks which open Saturday mornings.

CURRENCY RESTRICTIONS:

Unknown.

COUNTRY OVERVIEW:

El Salvador is a country in Central America. Interestingly, despite being a small country, it has the highest population in Central America. There are a number of people who have emigrated to El Salvador from neighbouring countries, due in part to a growing economy and the adoption of the US dollar. The capital is San Salvador and the official language is Spanish.

POPULATION:

Around 7 million.

ECONOMY:

El Salvador has a growing economy and has the the third largest in the Central America region. On the other hand, it is still officially a developing country and is still one of the poorest in Latin America. A large proportion of the population lives below the poverty line. The introduction and eventual adoption of the US dollar was met with suspicion and negative feedback by the populace, but in fact the it has helped lower interest rates, which in turn has meant more credit available for investment. Main elements of the economy are coffee and more recently, the tourism sector has been considered to need more attention, although this has been hampered by very high crime rates.