Said in economic parlance, it involves adopting the U.S. dollar as the official currency of a country. In Latin America there are three countries that have adopted the U.S. dollar as their official currency. The first to do so was Panama, in 1904. This was followed by Ecuador, which began replacing its sucre currency with the U.S. dollar in 2000. Finally, the currency circulated as the official currency in El Salvador starting in 2001.
