Currency of Ecuador and the new. It was further arranged to have Banco del Ecuador import coin based on the French decimal system. García Moreno thus settled the basic problems of Ecuador's currency. In 1877 President Ignacio de Veintimilla authorized the free circulation of coin less than 900 fine, with the immediate result that good quality coin disappeared from circulation, replaced by coin from Chile and Bolivia that was only 500 fine. "Banco del Ecuador" issued notes for 2 & 4 reales and 1, 5, 10, 20, 100, 500 & 1000 pesos. "Banco Nacional", Guayaquil, issued notes briefly in 1871 for 2 and
Currency War of 2009–11 reputation for avoiding government intervention in favour of free market policies. Brazil's finance minister Guido Mantega who had raised the alarm about a currency war back in September, warned that matters were beginning to escalate into a trade war. He expressed concerns about the economic policies of both China and the US. By February, the US had stepped up diplomatic efforts to persuade emerging economies such as Brazil and India that China's intervention was the root cause of the currency war. However the US once again refrained from labelling China a currency manipulator. A Treasury report said that allowing for