Where’s best to exchange money in Ecuador?

Got Euros or another foreign currency, or maybe want to buy it in Ecuador getting out of the USD while it's strong?  

So, where has the best exchange rates?

 
First off, for the best rates be sure to exchange your money in one of the only two cities in Ecuador with international airports… Quito or Guayaquil.  

In the smaller towns of Ecuador it may get very difficult to even find somewhere that will exchange money, let alone at a good rate.  

In Guayaquil, where I lived for about a year, I recommend the small exchange houses found in the CENTRO near Av. 9 de Octubre.  

In Quito, this week in June of 2015, I checked all the places I know to exchange money.  

On XE.com while the international rate USD-EUR was $1.128-1…

The buy rate means how much in USD they´ll give you for 1 EURO, the sell rate is how much USD you have to pay them for 1 EURO.  
 

In the airport the rate was …  BUY … $1.07 SELL… $1.39  (by far the worst).

In Western Union in downtown Quito… BUY … $1.09… SELL $1.19 (not so good!)

In the biggest bank of Ecuador, Banco Pichincha, the rates were… BUY … $1.15… SELL $1.22  (good buy rate!)

On the street corner where money exchangers have been for years with big wads of cash on Av. Amazonas and Vicente Ramon Roca they were offering … BUY $1.12… SELL $1.18.  (average)

At Del Bank, a smaller bank in Quito, they were offering… BUY $1.02… SELL $1.23 (worse)

Then, there are the little exchange houses along AMAZONAS in the MARISCAL sector… 

The best rates I found were at MIL CAMBIOS S.A. on Wilson and Amazonas BUY $1.14 … SELL $1.15

and… CAMBIOS NUEVO MILENIO on Amazonas and Carrion  BUY $1.15 … SELL $1.20   

So, in the end, both the best BUY and SELL rates could be found in the smaller exchange houses mentioned above along AV. Amazonas in Quito although Banco Pichincha wasn´t too shabby.  

Also, remember for exchanging larger sums in Ecuador it is accepted to negotiate a slightly better rate.

If you liked this deal, you’d love my weekly newsletter, revealing everything you need to know BEFORE you invest in Ecuador. Unsubscribe at any time:

First Name
* Email
* = Required Field

Comments are closed.

Free 2016 Ecuador Property Price Guide

Don't overpay! Get 2016 Ecuador property price data based on over 500 transactions in this brief, informative report, Normally $64.95, today get it FREE! Fill in below to receive now:



Newest Ecuador Properties For Sale

Ecuador Expat Meet-ups and Events

Recommended Hotels in Ecuador