Money – one more time

This is a follow-up post to an earlier post on money called “Tiene sueltos?”

Spending money is a daily occurrence, so you really start to notice the finer points on how it is done.

Ecuador uses U.S. dollar

Just so you know, Ecuador switched to the U.S. dollar as its currency in 2000; Panama and El Salvador also use the dollar as far as I know.

Planning your day

Cash is used so much here, it starts to look faded like this one.

In the previous post I mentioned that if you have a $20 in your pocket you often plan your day by determining which stores will take that $20. After that, you’ll have smaller bills and change in your wallet.

Oops!  The clerk already sees I have a $5
No chance of spending my $20 now.

Don’t show your smaller bills

But, when you arrive at that first store, you need to have switched that $20 to a different pocket from the rest of your money. Why? Because the store clerk will be watching what you pull out of your pocket and if the clerk sees that you happen to have smaller bills or change, they will ask you to use that instead of your $20.

Speaking of what's in your pocket ...

Early on in my stay here I was required by Fulbright to go to the U.S. Embassy for a personal security briefing. I learned many interesting tactics for keeping safe while living in Ecuador. One of them was, do not carry a wallet. Just carry some cash, your ID, and your cell phone. Why no wallet? It makes a big lump in your pocket and is easier to spot. Plus you really do not want to be carrying around credit cards or debit cards.

U.S. Dollar coins

Sacagawea U.S. Dollar Coin
Use more in Ecuador than in U.S.

For years now when I go to the IU Credit Union to withdraw cash, I have been asking for a roll of dollar coins. I started using dollar coins after travelling to Canada where they have $1 and $2 coins and to Europe where they have the Euro coin. When I would spend the U.S. dollar coins in stores in the U.S. I would often get asked “What is this?”, or “Is this real?” Here in Ecuador, you use the U.S. dollar coin everyday, and there is no hesitation in accepting it by the store clerk. 

I find it interesting that in Ecuador I don't get strange looks spending the dollar coin, but in the U.S. I do.