The new fractional currencies issued by the Central Bank are already circulating in the country. The Central Bank has started an information campaign to encourage citizens to accept the new coins that feature images of national figures.
For example, the faces of Eloy Alfaro were also added to the 50 cent coin, which until now had the image of Eloy Alfaro. Matilde Hidalgo from Procel and Tránsito Amaguaña.
On the other hand, for the 25-cent coins that were designed with the image of José Joaquín de Olmedo, the face painter Oswaldo Guayasaminfull size figure of a football player Alberto Spencer and Jorge IcazaEcuadorian novelist.
On the 10-cent coin there is a na former President Galo Plaza Lasso and former President Jaime Roldós Aguilera. Before this change, these coins featured the figure of journalist and doctor Eugenio Espejo.
The five cent one he had Ambateño writer Juan Montalvo, now you will also have a picture former president Isidro Ayora.
IN place circulating on the TikTok network, the buyer in the marketplace explains to the seller that these new coins are part of the new face of our currency. It is also indicated that through these coins, which have values of 5, 10, 25 and 50 cents, prominent figures in history are remembered.
In the report, the Central Bank of Ecuador recalled that in the first years of the monetary dollarization scheme, especially between 2000 and 2003, the institution carried out several minting processes of fractional national currency through mints from different countries. This is done for a total value of $90.4 million: $85.3 million in 2000; $1.5 million in 2001 and $3.5 million in 2003.
In physical units, the minting program totaled 972.9 million coins, and the process cost a total of $15.4 million.
At that time the mints were: Casa de Moneda de México, Banco de la República de Colombia, Royal Canadian Mint and Royal Mint of England.
Meanwhile, the process for this new coin dates back to 2020, while in August 2023, the need and the required budget for it have already been confirmed. On this occasion, money in the amount of 44.2 million dollars was minted, and 287.2 million pieces of coins were issued. This at a price of $10.8 million.
Source: Eluniverso
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