Definition

1. Noun:
   • The basic unit of money in El Salvador: The "El Salvadoran colon" was the official currency of El Salvador. It was subdivided into 100 centavos.

Usage

• The term "El Salvadoran colon" is used to refer specifically to the former national currency of El Salvador. It is a proper noun and is often capitalized. It is used in financial, historical, and economic contexts.

Examples

• Noun:
  • Before adopting the US dollar, prices in El Salvador were listed in El Salvadoran colones.
  • He exchanged his dollars for El Salvadoran colones at the bank.
  • The old coins were denominated in El Salvadoran colones.

Advanced Usage

• Historical Context: The El Salvadoran colon was replaced by the United States dollar as the official currency in 2001. Therefore, references to it are primarily historical or relate to transactions before that date.
  • Collectors seek out old El Salvadoran colon banknotes.

Variants and Related Words

• Colón (singular): The singular form of the currency unit.
  • One colón was worth very little after dollarization.
• Colones (plural): The plural form.
  • He had a few hundred colones left in his wallet.
• Centavo: A subunit of the colon, equal to 1/100 of a colon.
  • The coin was worth 50 centavos.

Synonyms

• Salvadoran colon: A common alternative name, often used interchangeably with "El Salvadoran colon."
• SVC: The ISO 4217 currency code for the El Salvadoran colon.

Notes

• Important Distinction: Do not confuse the El Salvadoran colon with the Costa Rican colón, which is the currency of Costa Rica. They are distinct currencies from different countries.
• Current Status: As of 2001, the El Salvadoran colon is no longer in active circulation as legal tender, having been fully replaced by the US dollar.

Noun

1. the basic unit of money in El Salvador; equal to 100 centavos