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
History of Brazil since 1985 price freezes and ultimately a change in the national currency. During Sarney's presidency, Brazil had three currency units: the cruzeiro, the cruzado and the cruzado novo. Economic domestic troubles led to default on Brazil's international debt in 1988. This closed international financial markets for Brazil and its economic situation worsened. Despite the initial decrease, inflation returned higher than before the economic plans, reaching 84% a month in 1990. The government's inability to deal with inflation ultimately led parties that had led the political transition to lose the 1989 elections, the first elections under the new Constitution and the first presidential