Americas Nations, Capitals & Currencies
The Americas encompass 35 sovereign nations across North, Central, and South America alongside the Caribbean basin. North America features the United States (Washington D.C., US Dollar, USD), Canada (Ottawa, Canadian Dollar, CAD), and Mexico (Mexico City, Mexican Peso, MXN). Several Latin American economies have adopted official dollarization, utilizing the US Dollar as legal tender, including Ecuador (Quito), El Salvador (San Salvador), and Panama (Panama City, alongside the Balboa). South America's major economies maintain independent currencies, such as Brazil's Real (BRL, Brasília), Argentina's Peso (ARS, Buenos Aires), and Colombia's Peso (COP, Bogotá). Caribbean nations frequently utilize the East Caribbean Dollar (XCD), pegged to the US Dollar and managed by the Eastern Caribbean Central Bank.
Key Concepts & Examination Highlights
- Ecuador fully adopted the US Dollar (USD) as its official legal tender in 2000 following a severe domestic banking crisis.
- The Eastern Caribbean Central Bank (ECCB), headquartered in Basseterre, St. Kitts, issues the common East Caribbean Dollar for eight island economies.
- Brazil inaugurated Brasília as its purpose-built federal capital in 1960, replacing Rio de Janeiro.