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 a source of contention, concerns over currency war had receded, along with signs that major currencies such as the Renminbi were now much less undervalued than they had been a year previously. Brazil currency had fallen substantially from its peak value against the dollar, allowing Mantega to begin rolling back anti-appreciation measures. In July, the IMF downgraded its assessment of the degree to which the Renminbi is undervalued from "substantially" to "moderately". However, Chinese officials were not pleased, suggesting that their exchange rate is no longer undervalued at all. Whereas in the US, presidential candidate Mitt Romney retains his pledge