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.
20/06/2012: Mexican Peso Becomes the Most Traded Emerging Market Currency
The Mexican peso surpassed the Brazilian real to become the most traded currency among emerging markets, reflecting Mexico's growing economic importance.
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.
01/01/2003: Introduction of the New Peso Symbol
The Mexican peso adopted a new symbol, replacing the old symbol (₱) with a capital 'P' with double horizontal lines (MXN) to symbolize the currency.
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The sucre was completely withdrawn from circulation, and all transactions were required to be conducted in US dollars.
09/03/1999: Adoption of US dollar as official currency
Ecuador officially adopted the US dollar as its official currency, replacing the sucre nuevo.
20/12/1994: Tequila Crisis
Mexico experienced a severe economic crisis and an abrupt devaluation of the peso as a result of the devaluation of the Thai baht, causing investors to flee emerging markets.
01/01/1993: Implementation of the North American Free Trade Agreement (NAFTA)
NAFTA came into effect, promoting trade and investment between Mexico, the United States, and Canada, leading to increased stability and growth in the Mexican economy.
06/07/1988: Introduction of the New Peso
Due to hyperinflation and currency devaluation, Mexico introduced a new currency, called the New Peso, where 1000 old pesos were replaced by 1 new peso.
12/08/1982: Mexican Debt Crisis
Mexico defaulted on its external debt, leading to a sharp devaluation of the peso and a severe economic crisis, requiring an emergency loan from the International Monetary Fund (IMF).
13/08/1970: Devaluation of the Peso
In response to global inflation, the Mexican government devalued the peso by 20% against the US dollar, leading to economic instability and a decline in purchasing power.
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.
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.
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.