Due to economic instability, in January of 2000, then Ecuadorian President Jamil Mahuad instituted a policy instating the United States dollar as the official currency of Ecuador. Despite disapproval of the policy by current Ecuadorian President Rafael Correa’s administration, no plans are currently in the works to replace the US dollar as the official currency. However, the administration has indicated that it would replace the US dollar in favor of a South American currency if one became available. The dollar replaced "sucres" in Ecuador, at a rate of 1 for every 25,000 sucres. While Ecuador has officially replaced their own...