Costs, money and banks
Since January 1, 2001, El Salvador has operated a dual-currency
economy, with both the local currency, the colón (often
called the peso), and the US dollar recognized as legal
tender for all transactions. The colón, however, is slowly being
withdrawn from circulation, and the dollar will become the sole
unit of currency from 2003.
The colón is divided into 100 centavos. There are coins of 5c,
10c, 25c and 1 colón, and bank notes of 1, 5, 10, 25, 50, 100 and
200 colones. All US dollar notes and coins are now in free
circulation
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