- Salvadoran colón
:"Colón is also the name of
Costa Rica 's currency. For this, seeCosta Rican colón ."Infobox Currency
currency_name_in_local = colón salvadoreño es icon
iso_code = SVC
using_countries =El Salvador
subunit_ratio_1 = 1/100
subunit_name_1 =centavo
plural = colones
used_coins = 5, 10, 25 centavos, 1 colón
rarely_used_coins = 1, 2, 3 centavos
used_banknotes = 5, 10, 25, 50, 100, 200 colones
issuing_authority =Central Reserve Bank of El Salvador
obsolete_notice = YThe colón was the currency of
El Salvador between 1919 and 2001. It was subdivided into 100centavo s and itsISO 4217 code was SVC. The plural is colones in Spanish but English-speakers often say colons instead. The currency was named afterChristopher Columbus , known as Cristóbal Colón in Spanish.History
The colón replaced the peso at par in 1919. It was initially pegged to the
U.S. dollar at a rate of 2 colones = 1 dollar. El Salvador left the gold standard in 1931 and its value floated. The colón was replaced in 2001 by theUnited States dollar at an exchange rate of 8.75 colones to the dollar (seedollarization ).Coins
Because the colón replaced the peso at par, 1 and 5 centavos coins issued before 1919 continued to be issued without design change after the colón's introduction. In 1921, cupro-nickel 10 centavos were introduced, followed by silver 25 centavos in 1943. In 1953, silver 50 centavos were introduced alongside smaller silver 25 centavos. Both were replaced by nickel coins in 1970. In 1974, nickel-brass 2 and 3 centavos coins were introduced, followed by 1 colón coins in 1984.
Banknotes
Until 1934, paper money was issued by private banks. Three banks issued notes, the "Banco Agricola Comercial", the "Banco Occidental" and the "Banco Salvadoreño". Denominations issued included 1, 2, 5, 10, 25, 100 and 500 colones.
In 1934, the Central Reserve Bank introduced notes for 1, 2, 5, 10, 25 and 100 colones. The last 2 colones notes were dated 1976 and the last 1 colón notes were issued in 1982. 50 colones notes were added in 1995 and 200 colones in 1997.
References
*numis cite SCWC|date=1991
*numis cite SCWPM|date=1994
*numis cite SCWPM|date=1990.sExternal links
Standard numismatics external links
world_coin_gallery_1_url = Elsalvador
world_coin_gallery_1_name = El Salvador
banknote_world_1_url = el_salvador
banknote_world_1_name = El Salvador
dollarization_1_url =
dollarization_1_name =
gfd_1_url = EL_SALVADOR
gfd_1_name = El Salvador
gfd_data_1_url = 6131
gfd_data_1_name = El Salvador colón
show_gfd_excel = Y
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