Timeline

• 08.11.1831
• Ecuadorian coinage act, takes over the "Greater" Colombian standard of 1826; effective 09.11.1831.
  - 14.07.1836: Adaptation of the coinage act to reflect the change in country name from "Ecuador en Colombia" into "República del Ecuador"; effective immediately.
• 12.01.1833
• Start of coinage exchange:
  - 26.10.1831: 2nd Presidential decree on the foundation of a mint in Quito (the 1st decree of 28.07.1823 could not be implemented); operations began on 30.12.1832
  - 12.01.1833: Start of issuance of Ecuadorian coins
  - Former "Greater" Colombian coinage and foreign coins were not withdrawn.
• 1843-1847
• Recoinages to improve the circulating medium, sub-standard coins could not be withrawn but were discounted by 11%:
  - 19.06.1843: Coinage act on the issuance of redesigned coins to combat coin counterfeiting; implemented during 1844
  - 29.12.1845: Presidential decree on the issuance of a fully-weighted Peso coin silver; implemented during 1846
  - 13.07.1846: Ordinance on the rating of sub-standard coins in circulation to 9 Reals per fully-weighted Peso coin; effective immediately (?)
  - 21.11.1846: Coinage act extending the presidential decree of 1845 to the issuance of fully-weighted gold coins; implemented during 1847.
• 05.12.1856
• Currency law on the switch to the French bimetallic standard and the introduction of the metric weight units; coinage standard effective (latest) 15.10.1858, metric weights effective (latest) on 15.10.1857; as of 15.10.1866, all earlier coins and weights are void
• 15.10.1858
• Start of coinage exchange:
  - 04.12.1857: Ordinance on the rating of sub-standard coins in circulation to 9 Reals per Peso coin (of 5 French Francs); effective immediately (?)
  - ??.??.1857: Start of issuance of a Peso coin (denominated 5 Francos) in silver and subsidiary coins of 4, 2 Reals (although the coinage law prescribed a decimal sub-unit); the state did not have the funds to issue these coins in substantial numbers, nor to produce gold coins
  - Former coinage and foreign coins were not withdrawn (an ordinance of 15.10.1866 could not be implemented).
• 1860-1884
• Government mandates the issuance of paper money and subsidiary coinage to commercial banks:
  - 30.11.1860: Presidential decree on the issue of paper money by the "Banco Particular de Descuento y Circulación de Guayaquil" (and the "Banco de Luzárraga" which defaulted before acting on the the decree); issuance began in June 1862 and was discontinued during 1866
  - 15.06.1861: Parliamentary resolution, authorizes the "Banco Particular de Descuento y Circulación de Guayaquil" to issue subsidiary coins; issuance of coins of 4, 2 Reals (again non-decimal) began in January 1862 and was discontinued in early 1863
  - 04.01.1870: Contract between the government and the commercial bank "Banco del Ecuador" (in Guayaquil) on the issuance of subsidiary coinage and withdrawal of sub-standard, cut and pierced coins; issuance of 2, 1 Cent coins began on 06.06.1872, the withdrawal was not implemented
  - 24.02.1877: Presidential decree, authorizes the "Banco del Ecuador" to import Colombian silver coins as subsititute subsidiary coinage.

Valuation Regimes

• 1831-1856
• Metallic currency based on circulating gold and silver coins, base weight is the Castilian mark / 8 Onzas / 8 Octavos / 72 Granos at 230.047 grams.
• 1856-1884
• Metallic currency based on circulating gold and silver coins in the French standard (not explicitly specified in the currency law, which also referred to the "Franc" as denomination). De facto circulation of paper money and sub-standard coinage, almost no specie coins in silver and no gold coins at all were produced.

Timeline

• 22.03.1884
• Currency law on the name change and confirmation of the French bimetallic standard; effective 01.01.1885
• ??.11.1884
• Start of currency exchange:
  - ??.11.1884: Start of issuance of the new banknotes and coins
  - 14.08.1890: Ordinance on the demonetization of all foreign coinage; effective immediately (on 27.08.1890, the "Banco del Ecuador" was mandated with the collection and exchange)
• 1890-1924
• Coinage issued by government and commercial banks:
  - 14.06.1890: Government orders the production of coins of 1, ½ Cents by Heaton (Birmingham) mint
  - 1884: "Banco Internacional" orders the production of coins of 1, ½ Sucre, 20, 10 Cents by Heaton (Birmingham) mint
  - 1888: "Banco del Ecuador" orders the production of coins of 1 Sucre, 20, 10 by Santiago de Chile mint
  - 1888: "Banco Internacional" orders the production of coins of 1 Sucre, 20, 10 Cent by Lima and Heaton (Birmingham) mints
  - 1892: "Banco Internacional" orders the production of coins of 20, 10, 5 Cents by Lima mint
  - 1898: "Banco Commercial y Agrícola" orders the production of coins of 10 Sucres by Heaton (Birmingham) mint
  - 1899: "Banco del Ecuador" orders the production of coins of 10 Sucres by Heaton (Birmingham) mint
  - 1899: "Banco Commercial y Agrícola" orders the production of coins of 1 Sucre, 20, 10, 5 Cent by Lima and Heaton (Birmingham) mints
  - 1902 & 1904: "Banco del Ecuador" orders the production of coins of 1 Sucre, 20, 10, 5 Cent by Lima mint
  - 1909: "Banco Commercial y Agrícola" orders the production of coins of 5, 2, 1, ½ Cent by Heaton (Birmingham) mint
  - 1911 & 1913: "Banco del Ecuador" orders the production of coins of 1 Sucre, 20, 10 Cent by Lima mint
  - 02.10.1918: Government orders the production of coins of 10, 5 Cents by Gorham Co. (Providence) mint
  - 1922: "Banco Sur-Americano" orders the production of coins of 10, 5 Cent by Lima mint
• 03.11.1898
• Currency law on the switch to the British gold standard; effective immediately

Valuation Regimes

• 1884-1898
• Metallic currency based on circulating gold and silver coins in the French standard, de facto dominated by pivate paper money
• 1898-1914
• Fixed rate against gold and British Pound, the gold stnadard was suspended on 31.08.1914
• 1914-1927
• Variable rate
• 1927-1982
• Fixed rate against US Dollar
• 1982-2000
• Variable rate, highly inflationary

Timeline

• 09.01.2000
• Presidential decree on the adoption of the US Dollar instead of a national currency; effective 13.03.2000
• 13.03.2000
• Start of currency exchange:
  - 13.03.2000: Start of issuance of US banknotes and coins
  - ??.09.2000: Start of issuance of Ecuadorian subsidiary coins to circulate alongside the US banknotes and coins
  - 11.09.2000: Demonetization of the former currency.