Despite not being so common, the Salvadoran Central Reserve Bank (BCR) stated that $0.50 coins and $2 bills are currencies are legal tenders that can be used throughout the Salvadoran territory.
The $0.50 coin, commonly referred to as “a half dollar,” possesses a silver coloring, and it is larger than the $0.25 coin, also known as a “Cora,” as well as the $1 coin.
In April 2023, the Salvadoran Central Reserve Bank (BCR) announced the introduction of $50 and $100 bills for acceptance in local transactions. Subsequently, $0.50 coins and $2 bills have also been included in the circulation.
Previously, businesses, particularly smaller ones, refrained from accepting $50 and $100 bills. Consequently, the Salvadoran government dispatched inspectors to eliminate signs that discouraged its use. “$50 and $100 bills are not accepted here.”
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The BCR also announced that they would sanction establishments that refuse to receive these denominations.
According to the BCR, the acceptance of this type of money complies with Article 3 of the Salvadoran Monetary Integration Law, which establishes that “the dollar will have an unrestricted legal tender with unlimited liberatory power for the payment of monetary obligations in the territory.”
Due to its irregularity, some people prefer to hoard these $0.50 Coins and $2 Bills when it comes into their hands instead of spending them; however, it is worth remembering that these can be used in any business in El Salvador.
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El Salvador’s legal tenders, including newly introduced denominations like $0.50 Coins and $2, $50, and $100 bills, signify a dynamic shift in currency circulation. Bitcoin and the Salvadoran Peso are also legal tenders in El Salvador.
