SVC (El Salvador Colon)

DEFINITION of 'SVC (El Salvador Colon)'

The currency abbreviation for the El Salvador colón (SVC), the currency for El Salvador from 1919 to 2001. The El Salvador colón was made up of 100 centavos, and was replaced by the U.S. dollar at a rate of 8.75:1 in 2001.

BREAKING DOWN 'SVC (El Salvador Colon)'

The El Salvador colón was taken on as the official currency of El Salvador in 1919, when it replaced the peso at par. From 1919 to 1931, the colón was pegged to the U.S. dollar at 2 colónes to 1 U.S. dollar, after which its value was allowed to freely float against other currencies.

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