Frequently asked money transfer questions

Why El Salvador uses the US Dollar as its currency?

To spark the economic growth of El Salvador after the devastating civil war ended in the year 1992, its government has taken this decision and also privatises the country’s banking system. For growing further it has dollarized its currency in the year 2001. But the downside of this system is that now El Salvador has no control over its monetary policies and could not even print its own currency.

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