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In some countries, such as Costa Rica and Honduras, the U.S. dollar is commonly accepted, although not officially regarded as legal tender. In Mexico's northern border area and major tourist zones, it is accepted as if it were a second legal currency.
Costa Rica Dominican Republic Ghana Philippines Romania Uzbekistan Argentina Laos Mauritania Mozambique Switzerland Solomon Islands South Sudan Tunisia Zambia ; Pegged exchange rate within horizontal bands (1) Morocco ; Other managed arrangement (12)
However, semi-dollarization also exists in a few other countries where the U.S. dollar is recognised as legal tender alongside another currency, and unofficial dollarization exists in many areas where the U.S. dollar is widely used and accepted-although it is not recognised as legal tender. [6]
crawling peg to USD Nicaragua: Nicaraguan córdoba: NIO: Central Bank of Nicaragua: crawling peg to USD Costa Rica: Costa Rican colón: CRC: Central Bank of Costa Rica: float Panama: US dollar / Panamanian balboa: USD / PAB: Federal Reserve Bank / National Bank of Panama: 1.00 PAB = 1.00 USD Colombia: Colombian peso: COP: Banco de la República ...
A currency is a kind of money and medium of exchange.Currency includes paper, cotton, or polymer banknotes and metal coins.States generally have a monopoly on the issuing of currency, although some states share currencies with other states.
Costa Rica and Colombia formalized their diplomatic relations with the signing of the Calvo-Herrán Treaty on June 11, 1856. Although as a result of the independence of Panama, recognized by Costa Rica on December 29, 1903, there is no longer a land border between Costa Rica and Colombia, both countries continue to share a considerable maritime border.
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. [1]Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe.
Latin American and the Caribbean countries by GDP per capita PPP (2019). This is a list of Latin American and the Caribbean countries by gross domestic product at purchasing power parity in international dollars according to the International Monetary Fund's estimates in the October 2023 World Economic Outlook database.