In the midst of an intense debate in United States, the pertinence or not of the creation of more USD 1 coins, that Ecuador continues to import them.
Pedro Delgado, head of the Central Bank Board did not specify the amount of imports to the income “for safety reasons.” Delgado did point out that in 2011 a total of 167 millions of $1 coins were imported. This amount of coins has been maintained in the local market.
The new currency is already circulating in the United States, in Ecuador these coins will start to circulate since May 21. The official also explained that due to the use people give to these coins is better to import coins than cash.
However, last year the United States president Barack Obama announced the suspension of these coin production as an effort to reduce public expenses. (AV)