02/12/2016: Peace Agreement Impact
After the signing of the peace agreement with FARC, the Colombian Peso strengthened and saw improvements in the economy.
20/09/2015: Discontinuation of the sucre electrónico
Due to various issues, the sucre electrónico was discontinued, and the US dollar remained as the sole official currency of Ecuador.
30/11/2009: Introduction of the sucre electrónico
The sucre electrónico, a digital currency, was launched in an attempt to promote financial inclusion and reduce the country's reliance on US dollar.
24/07/2001: Exchange rate flexibility
Colombia allowed the Colombian Peso to have a flexible exchange rate, transitioning from a fixed exchange rate system.
09/01/2000: Withdrawal of the Sucre from circulation
The sucre was completely withdrawn from circulation, and all transactions were required to be conducted in US dollars.
21/10/1999: Colombia's Financial Crisis
Colombia faced a financial crisis resulting in a devaluation of the Peso and an economic recession.
09/03/1999: Adoption of US dollar as official currency
Ecuador officially adopted the US dollar as its official currency, replacing the sucre nuevo.
04/07/1991: Introduction of a New Peso
A new Peso was introduced with a higher value, replacing the old Peso due to high inflation.
08/12/1964: Introduction of the Sucre Nuevo
A new sucre, known as the sucre nuevo, was introduced to replace the original sucre at a rate of 1 sucre nuevo to 1,000 sucres.
12/06/1953: Creation of Banco de la República
The central bank of Colombia, Banco de la República, was established to regulate and control the Colombian Peso.
08/07/1932: Creation of the Central Bank of Ecuador
The Central Bank of Ecuador was established with the aim of regulating the currency and monetary policy.
31/07/1886: Adoption of the Gold Standard
Colombia adopted the gold standard, linking the value of the Peso to gold, stabilizing the currency.
14/01/1884: Introduction of the Sucre
The sucre was introduced as the national currency of Ecuador at a rate of 5 sucres to 1 US dollar.
27/05/1837: Introduction of the Peso
The Colombian Peso was introduced as the official currency of Colombia, replacing the Spanish real.