Ecuador's economy is mainly based on mining, agriculture and fishing. The development and exporting of oil have played a dominant role in the country's economy since the early 1970's. But recently Ecuador's economy began to depend more and more on the export of cocoa and bananas, of which Ecuador is the world's largest exporter and has been for several decades.
If you would like to exchange traveler’s checks for Ecuadorian money please visit the exchange houses or any of the banks in the cities. Commission charged for cashing in of traveler’s checks ranges from 1% to 4%. Traveler’s checks are a great way to bring money into Ecuador as they offer greater security i.e. you can be reimbursed should the checks get lost or stolen.