The colón was the currency of El Salvador from 1892 until 2001, when it was replaced by the U.S. dollar during the presidency of Francisco Flores . The colón was subdivided into 100 centavos and its ISO 4217 code was SVC. The plural is " colones " in Spanish and the currency was named after Christopher Columbus , known as Cristóbal Colón in Spanish.
34-607: Chalatenango can refer to: Chalatenango Department in El Salvador Chalatenango, Chalatenango , a city in El Salvador A.D. Chalatenango , a Salvadoran professional association football club based in the city Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title Chalatenango . If an internal link led you here, you may wish to change
68-466: A central bank to protect the currency and its value, and issue the currency and credit control. Thus through the presidential initiative on June 19, 1934, the legislature approved the creation of the Central Bank of El Salvador , an institution whose objectives are set to control the volume of credit and demand of currency, and was also conferred the exclusive power to issue monetary kind. Because
102-512: A fixed exchange rate of 8.75 colones. The colon has not officially ceased to be legal tender. In the mid-19th century, farms produced tin sheets (property sheets) with the farm's name and were used as payment to employees, the sheets only had value in the farm store that issued it, so it created a monopoly. Workers couldn't leave their jobs without losing everything. During the existence of the Central American Federation ,
136-770: A left-wing guerrilla group which the FPL was a founding member of, during the Salvadoran Civil War (1979–1992). Due to its nature as a guerrilla stronghold, several military operations conducted by both sides of the civil war occurred in Chalatenango. During the civil war, many refugees fled south to the shore of Lake Suchitlán or left the department entirely for either Honduras or the United States . Many mayors in northern Chalatenango also fled their municipalities, leaving them to be effectively controlled by
170-539: A result, Chalatenango's 33 municipalities were consolidated into 3, known as Chalatenango Norte, Chalatenango Centro, and Chalatenango Sur; the 33 municipalities remained extant as districts, and the change went into effect on 1 May 2024. The department heavily relies on agriculture to sustain its population. Crops such as maize, beans, and vegetables are cultivated on around 3.5 percent of the department's land, meanwhile, cattle are raised on around 35 percent of its land. Chalatenango has two main roads which travel through
204-460: Is a department of El Salvador located in the northwest of the country. The department's capital city is the city of Chalatenango , which shares the same name as the department. Chalatenango covers a land area of 779 sq mi (2,017 km ) and contains over 192,000 inhabitants. Chalatenango's maximum elevation, located at Cerro El Pital (the country's highest point), is 8,960 feet (2,730 m). Amílcar Iván Monge Monge of Nuevas Ideas has been
238-460: Is frequently used locally to designate the colón in price markings and advertisements. On October 1, 1892, the government of President Carlos Ezeta , decided that the Salvadoran peso should be called the 'Colon', in homage to the discoverer of America . The colón replaced the peso at par in 1919. It was initially pegged to the U.S. dollar at a rate of 2 colones = 1 dollar. El Salvador left
272-427: The 1970s, Chalatenango only had one hospital, and only 57 percent of the population had access to any type of medical clinic; only one third of households had running water and only 16 percent had access to electricity. In 1971, the local minimum wage in Chalatenango was SVC₡ 1.00 to 2.50 per day, compared to the national minimum wage of SVC₡2.75 per day, and in 1975, Chalatenango had an unemployment rate of 40 percent,
306-537: The Central Reserve Bank ( Spanish : Superintendencia de Bancos y otras Instituciones Financieras ) was responsible for the validation of Salvadoran banknotes. Validation overprints were discontinued with the latest series of colón banknotes in 1997, when the banknotes were only printed on the authorization of both the Central Reserve Bank and the Superintendency, but the differences between
340-729: The Central Reserve Bank of El Salvador put into circulation the first uniform family of banknotes, replacing banknotes issued by the Banco Agricola Comercial , the Banco Occidental , and the Banco Salvadoreño : the first banknote family consisted of six denominations: 1, 2, 5, 10, 25 and 100 colones. The Central Reserve Bank later authorised the first 50-colón banknotes on May 3, 1979, and the first 200-colón banknotes on April 18, 1997. The last two-colón banknotes were authorized on 24 June 1976, followed by
374-457: The Discovery of America, the legislature reformed the monetary law and changed the name to "Colón". The exchange rate from US dollar at that time was 2 colones for a dollar. In 1919 currency laws were amended stipulating that the coins with daily wear would be withdrawn from circulation and coins with cuts or punched out parts would not be accepted as legal tender. The amendment also prohibited
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#1732765490764408-455: The FMLN; during and after the civil war, references were made by locals that there were "two Chalatenangos", one under government control and one under guerrilla control. By 1983, the FMLN held 15 of the department's 13 municipalities. Several civil war massacres occurred in Chalatenango, including the 1980 Sumpul River massacre and the 1982 Santa Rita massacre . From 1992 to 1995, following
442-693: The La Montañona Perimeter Ring (CHA07) connecting the Concepción Quezaltepeque with Ojos de Agua via the city of Chalatenango, and the Dulce Nombre de María – San Fernando Road (CHA13) which connects the two aforementioned municipalities. Chalatenango used to be under in influence of the Mara Salvatrucha (MS-13) criminal gang, specifically its Fulton Locos Salvatruchos cell, until May 2023 when
476-614: The Salvadoran government began the Siege of Nueva Concepción , an operation in Nueva Concepción (the gang's primary stronghold) to extract and arrest as many gang members as possible as a part of the country's gang crackdown . The Texis Cartel also operated out of Chalatenango. Common crimes which were committed in Chalatenango included arms trafficking, drug trafficking (such as cocaine and marijuana), human trafficking, and extortion. Salvadoran col%C3%B3n The symbol for
510-629: The arrival of the Spanish in the 1500s. The indigenous people of the area lived in densely populated communities and cultivated maize . From 1524 to 1539, the Spanish conquered the territories of modern-day El Salvador , including Chalatenango. In 1790, Francisco Luis Héctor de Carondelet , the colonial intendant of the Intendancy of San Salvador , recruited laborers from the Spanish regions of Asturias , Cantabria , and Galicia to work in
544-492: The colón is a c with two slashes. The symbol "₡" has Unicode code point U+20A1, and the decimal representation is 8353. In HTML it can be entered as ₡. The colón sign is not to be confused with the cent sign (¢), which has a code point U+00A2 in Unicode (or 162 in decimal), or with the cedi sign ₵, which has a code point U+20B5 in Unicode (or 8373 in decimal). Nonetheless, the commonly available cent symbol '¢'
578-490: The colón replaced the peso at par, 1 and 5 centavos coins issued before 1919 continued to be issued without design change after the colón's introduction. In 1921, cupro-nickel 10 centavos were introduced, followed by silver 25 centavos in 1943. In 1953, silver 50 centavos were introduced alongside smaller silver 25 centavos. Both were replaced by nickel coins in 1970. In 1974, nickel-brass 2 and 3 centavos coins were introduced, followed by 1 colón coins in 1984. On August 31, 1934,
612-499: The conclusion of the civil war, the Municipalities-in-Action (MEA) program listed 20 out of the department's 33 municipalities as "reconstruction municipalities" as they were severely damaged during the civil war, most of which were located in territories controlled by the FMLN. The MEA allocated SVC₡85 million (equivalent of USD$ 9.75 million) to Chalatenango to help built schools, clinics, roads, and water systems,
646-401: The department's population had increased to 172,075, but by then, its population growth had fallen to 2.3 percent per year, the lowest of any department. During the 1970s, Chalatenango had the highest rate of internal migration at –16.1 percent. In 2007, Chalatenango had a population of 192,788, the fourth smallest department by population. The Chalatenango department consists of 33 districts,
680-676: The department. The first, the Northern Trunk Highway (CA4), connects San Salvador , the country's capital city, in the south with the Honduran border in the north. The second, the Longitudinal Trunk Highway (CA3), connects the departments of Santa Ana in the west and Cabañas in the east. Other highways include the Arcatao Highway (CHA07) connecting the city of Chalatenango with Arcatao ,
714-416: The fall of indigo prices in the 1860s led to the department falling into a state of impoverishment. Since then, Chalatenango was one of the country's poorest departments, as most impoverished peasant farmers in El Salvador lived in the department, especially during the 1960s and 1970s. In 1961, 56 percent of the urban population was literate, while only 27 percent of the rural population was literate. During
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#1732765490764748-538: The gold standard in 1931 and its value floated. On June 19, 1934, the Central Bank was created as the government body responsible for monetary policy and the sole body authorized to issue currency in the nation. On January 1, 2001, under the government of President Francisco Flores , the Law of Monetary Integration went into effect and allowed the free circulation of U.S. dollar in the country (see dollarization ), with
782-536: The governor of Chalatenango since 2020. The name Chalatenango derives from the Nawat words chal or shal meaning "sand", at meaning "water" or "river", and tenango meaning "valley". In its entirety, "Chalatenango" means "valley of sandy waters". The indigenous peoples of the Americas had lived in the region of the modern-day Chalatenango department for over one thousand five hundred years before
816-462: The highest amount given to any department. Chalatenango covers a land area of 779 sq mi (2,017 km ). It lies along the Tamulasco and Cholco rivers at an elevation of 1,660 feet (506 metres). The population of Chalatenango increased by over 50 percent between 1770 and 1892, compared to national figure of 32 percent; the department's population in 1892 totaled around 54,000 people. By 1971,
850-653: The highest of any department. The Chalatenango department was a military stronghold for the Farabundo Martí Popular Liberation Forces (FPL) and the People's Revolutionary Bloc (BPR), two Marxist armed organizations, during the 1970s due to the department's mountainous terrain. The department continued to be a military stronghold for the Farabundo Martí National Liberation Front (FMLN),
884-448: The link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Chalatenango&oldid=1178857265 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Chalatenango Department Chalatenango ( Spanish pronunciation: [tʃalateˈnaŋɡo] )
918-417: The monetary system did not change with respect to the colonial system and continued using silver by weight as the main currency with circulation of macaques and property sheets. Once the federation dissolved, the Salvadoran government decreed the issuance of the first national currency, "Reales", silver coins engraved with an "R" and the "Escudos (Shields)" were gold coins with an "E" engraved. In 1883, under
952-504: The most of any department in El Salvador. The 33 municipalities are often grouped into three zones: north, central, and south. The department's 33 municipalities, listed in alphabetical order, are: On 13 June 2023, 67 of the 84 deputies of the Legislative Assembly of El Salvador voted in favor of a bill proposed by President Nayib Bukele to reduce the total number of the country's municipalities from 262 to 44. As
986-421: The one-colón banknote on 3 June 1982. Salvadoran banknotes were notable for having a validation overprint on the reverse: the practice of validating Salvadoran banknotes on a regular basis originated from the time when the government supervised the issue of commercial banknotes, and the date of the overprint on the back was later than the initial date of issue on the front. From 1961 to 2001, the Superintendency of
1020-538: The presidency of Dr. Rafael Zaldívar, the First Monetary Law was adopted using "peso" as a monetary unit, discarding the Spanish system of division into 8 reales. The new law served as a basis for the metric system, where the peso was equivalent to 10 reales. At the end of the 19th century, new paper money began to play an important role as an instrument of change as a unit of measure of the value of goods and as an element of savings. The job of issuing banknotes
1054-436: The production of indigo in the modern-day region of the Chalatenango department. The laborers were recruited due to a decrease in the indigenous population in the area. As a result, Chalatenango saw a significant increase of a lighter-skinned populace compared to the rest of El Salvador. Chalatenango was made a department in 1855. During the 1700s and 1800s, Chalatenango was mostly dependent on indigo production, however,
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1088-464: The using of cards, vouchers or counterparts to replace the official currency. Furthermore, it gave the Ministry of Finance the power to control the circulation of the currency. Despite the relative economic prosperity of the 1920s, the worldwide depression of 1929, the global drop in coffee prices and the government deregulation of the monetary system caused a national economic crisis. The main problem
1122-505: Was decreed to private banks licensed by the government. The first bank to issue banknotes was the Banco International (International Bank), founded in 1880, this bank was granted exclusive issuing rights, but then lost exclusivity to Banco Occidental and Banco Agricola Comercial. Under the presidency of Carloz Ezeta, the mint was inaugurated on August 28 of 1892. On October 1 of that year as a tribute to Christopher Columbus in
1156-404: Was the lack of a specialized institution dedicated to ensuring that currency retained its value by controlling banking activity. In response, the government of General Maximiliano Hernández Martínez hired an Englishman named Frederick Francis Joseph Powell to analyze and structure the Salvadoran banking body. In its final report, it was recommended that the banking system should be organized around
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