The Unidad de Valor Constante (UVC) was a currency created by the "
Ley de Valores
Ley may refer to:
Toponyms
* Ley (landform), name for a crag, rock or cliff in the north German language area
* Ley (crater), crater on the Moon
* Ley, Moselle, commune in France
* Ley Hill, hill in England
People
* Ley Matampi (born 198 ...
" of
Ecuador
Ecuador ( ; ; Quechua: ''Ikwayur''; Shuar: ''Ecuador'' or ''Ekuatur''), officially the Republic of Ecuador ( es, República del Ecuador, which literally translates as "Republic of the Equator"; Quechua: ''Ikwadur Ripuwlika''; Shuar: ''Eku ...
in 1993, and abolished with
dollarization
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. The process is also known as dollarization or euroization when the foreign currency is the dollar or the euro, respectively.
Currency subs ...
in the presidency of Jamil Mahuad on January 9, 2000. It was meant to help deal with the high levels of inflation experienced under the
sucre
Sucre () is the Capital city, capital of Bolivia, the capital of the Chuquisaca Department and the List of cities in Bolivia, 6th most populated city in Bolivia. Located in the south-central part of the country, Sucre lies at an elevation of . T ...
. The 1 UVC was specified at its introduction (May 28, 1993) to equal 10,000 sucres. Its value was adjusted daily by the "Instituto Nacional de Estadísticas y Censos" (INEC) in line with the rate of inflation.
It had the
ISO 4217 currency code
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual cu ...
ECV.
Currencies of Ecuador
Modern obsolete currencies
{{Ecuador-stub