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 a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in the southeast. It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the