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# System prepended metadata

title: Country / The Currency
tags: [el-salvador]

---

---
tags: el-salvador
---

# Country / The Currency

[Location:](https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html) Central America, bordering the North Pacific Ocean, between Guatemala and Honduras
[Capital City:](https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html) San Salvador
[Goverment Type:](https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html) Presidential Republic
[Border Countries:](https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html) Guatemala 199 km, Honduras 391 km
[Natural Resources:](https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html)
   - Hydropower
   - Geothermal power
   - Petroleum
   - Arable land

[Population Distribution:](https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html) Even if it's the smallest country in land area in Central America, El Salvador has a population that is 18 times larger than Belize; at least 20% of the population lives abroad; high population density country-wide, with particular concentration around the capital of San Salvador

## Economy
The smallest country in Central America geographically, El Salvador has the fourth largest economy in the region. [^cia]
A challenge in El Salvador has been developing new growth sectors for a more diversified economy. As many other former colonies, for many years El Salvador was considered a monoexporter economy, an economy that depended heavily on one type of export. [^economy]

- Economic sectors
   - Remittances
   - Agriculture
   - Manufacturing
   - Services[^economy]

The Salvadoran Government maintained fiscal discipline during reconstruction and rebuilding following earthquakes in 2001 and hurricanes in 1998 and 2005, but El Salvador's public debt, estimated at 59.3% of GDP in 2017, has been growing over the last several years. [^cia]

## Industry

   - food processing
   - beverages
   - petroleum
   - chemicals
   - fertilizer
   - textiles
   - furniture
   - light metals [^industries:]

## The Currency

SVC is the currency abbreviation for the El Salvador colón, which was the official currency for El Salvador from 1892 to 2001. [^investopedia]

Upon its adoption in 1892, the colón was pegged to the U.S. dollar at 2 colónes to 1 U.S. dollar. [^investopedia]

[CODE:](https://en.wikipedia.org/wiki/United_States_dollar) USD
[SYMBOL:](https://en.wikipedia.org/wiki/United_States_dollar) $
[BANKNOTES:](https://en.wikipedia.org/wiki/United_States_dollar)
Frequently used: $1, $5, $10, $20, $50, $100
[COINS:](https://en.wikipedia.org/wiki/United_States_dollar)
Frequently used: 1¢, 5¢, 10¢, 25¢
[CENTRAL BANK:](https://en.wikipedia.org/wiki/United_States_dollar) [Banco Central de Reserva de El Salvador](https://www.bcr.gob.sv/esp/)

The dollar became legal tender along with the colón. Because El Salvador is unable to print its own dollars, it instituted an educational program to help its citizens understand the value of the currency denominations. The colón has never officially been removed from circulation as legal tender. [^investopedia]

[^cia]: https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html
[^economy]: https://en.wikipedia.org/wiki/Economy_of_El_Salvador
[^industries:]: https://www.cia.gov/library/publications/resources/the-world-factbook/geos/print_es.html
[^investopedia]: https://www.investopedia.com/terms/forex/s/svc-el-salvador-colon.asp