About the Salvadoran Colón
The Salvadoran Colón was introduced in 1892, replacing the Peso. It was named after Christopher Columbus. In 2001, El Salvador adopted the U.S. Dollar, and the Colón gradually phased out of circulation.
The currency is named after Christopher Columbus (Cristóbal Colón in Spanish).
Interesting Facts
Replaced by the US Dollar
Since 2001, the U.S. Dollar has been the main currency in circulation in El Salvador, with the Colón gradually phasing out. This dollarization was aimed at economic stability.
First Bitcoin Nation
In a bold move, El Salvador became the first country in the world to adopt Bitcoin as legal tender in 2021, coexisting with the U.S. Dollar.
Columbus's Legacy
The Colón was named after Christopher Columbus, whose image appeared on several banknotes.
Historical Timeline
The Colón is introduced.
El Salvador adopts the U.S. Dollar as legal tender, phasing out the Colón.
El Salvador becomes the first country to adopt Bitcoin as legal tender.
Quick Facts
- ISO Code
- SVC
- Symbol
- $
- Numeric Code
- 222
- Subunit
- Centavo (1/100)
- Introduced
- 1892-01-01
Central Bank
- Name
- Central Reserve Bank of El Salvador
- Headquarters
- San Salvador, El Salvador
- Founded
- 1934
- Current Governor
- Douglas Pablo Rodriguez Fuentes (since 2019)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
Exchange Rates
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