TRIVIA

El Salvador made headlines around the world a few weeks ago when it became the first country in the world to adopt Bitcoin as legal tender. This Central American country had already adopted the dollar as its currency a couple of decades ago.

Which other countries in the region use the dollar as their currency?

A) Dominican Republic

B) Ecuador and Panama

C) Honduras and Jamaica

ANSWER

B) Ecuador and Panama. 

While the latter country adopted the dollar in 1904, shortly after its separation from Colombia and as part of a process of independence supported by the United States, Ecuador adopted it in January 2000 due to the severe economic crisis the country was facing at the time. El Salvador adopted the dollar a year later, in 2001, as a means of stabilizing the economy and making the country more attractive to foreign investors.