El Salvadoran Monetary Unit (Noun)
Meaning
Monetary unit in El Salvador.
Classification
Nouns denoting quantities and units of measure.
Examples
- The official El Salvadoran monetary unit is the United States dollar, which has been widely accepted in the country since 2001.
- In 1892 the El Salvadoran monetary unit was changed to the colón, which was named after Christopher Columbus.
- Prior to 2001 the colón was the main El Salvadoran monetary unit used within El Salvador.
- The El Salvadoran monetary unit is pegged to the United States dollar, stabilizing the exchange rate in the region.
- In recent years, El Salvador adopted Bitcoin as a legal El Salvadoran monetary unit, alongside the US dollar.