Ecuador - US Dollar - Currency Guide

General Currency Info - US Dollar

Read our Guide to the US dollar currency.

USD News, Forecasts and Trends

Key fundamentals that previously propped up the USD (such as company revenues, inflation rates and interest rates) have been rapidly eroded. However, there are drivers for a temporary shift in risk demand for the US dollar. Nothing goes down in a straight line, and the US dollar might bounce before it continues its trend lower.

The US dollar has dropped steadily for the last 3 months against nearly all major currencies.

However, as reported by Bloomberg Aug 11, the shorting of the US dollar - betting that USD will continue to drop - is becoming a crowded trade and may backfire.

Bank of America predict that an early discovery of a vaccine against the coronavirus would be a positive for the US dollar. That's because Europe and Asia have a higher chance of fresh waves of infections the longer it takes for a vaccine to be found, a scenario that's bullish for the US dollar, read more at the Bloomberg report.

In July market USD forecasts started predicting US dollar weakness during the second half of 2020. This was triggered by the mid-July european leaders delivery a historic stimulus package which was seen by market commentators as positive for the euro and hence negative for US dollar.

In early May the continuing coronavirus pandemic and an associated possible re-escalation in the US-China trade tensions has moved the market into safer currencies such as the USD and JPY.

The US dollar held its value in 2019 despite the US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.

For more USD currency market forecasts you can read the full article US Dollar Forecasts. The above interactive chart shows the USD to EUR exchange rate, trend and recent alerts for the last 90 days.

Travel, Currency and Money saving tips for Ecuador

Travel money for Ecuador

Save money and time by Ordering your US Dollars online from Travelex, you get better rates and can pick up the USD cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in US Dollars otherwise you may get much worst exchange rates.

Sending money to Ecuador

When searching around for information on how to get a good exchange rate when sending money to Ecuador you need to start with finding out the latest US Dollar exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

Get a better deal for foreign transfers to Ecuador

When sending money to Ecuador it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

1. Open an account with a BER reviewed FX provider (id docs may be required)
2. You specify the local or US Dollar amount you want to transfer
3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
4. Once your funds are received by the provider the converted USD amount will be transfered to the recipient account you specify in Ecuador.

Use the above Send to US Dollars calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more US Dollars deposited into the recipient bank account and less margins and fees kept by the banks!