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20 Sucres
| Issuer | Banco Central del Ecuador |
|---|---|
| Year | 1928-1937 |
| Type | Standard circulation banknote |
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| Obverse description | Purple and multicolour intaglio note with a central vignette of a seated allegorical female figure holding a staff, flanked at left and right by large guilloche numerals '20' set within ornate lathe-work borders. The legend 'EL BANCO CENTRAL DEL ECUADOR / SOCIEDAD ANÓNIMA' arches across the top, with 'CAPITAL AUTORIZADO 10,000,000 SUCRES' below; the place of issue 'Quito' appears at lower left alongside the date and serial number printed in red, and the promise-to-pay inscription 'PAGARÁ AL PORTADOR A LA VISTA VEINTE SUCRES' runs across the bottom centre. |
|---|---|
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| Protection type | Watermark |
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| Comments |
The Banco Central del Ecuador was established in 1927 as part of the Kemmerer Mission reforms — a sweeping monetary reorganization led by Princeton economist Edwin Kemmerer that replaced the discredited private bank note system and introduced the sucre as the sole legal tender. This note dates from the bank's earliest operating years, when ABNC supplied virtually the entire initial stock of currency for the new institution.
The Kemmerer-era sucre held its gold peg until 1932, when Ecuador became the first South American country to abandon the gold standard during the global crisis. Notes of this series consequently circulated through a period of sharp monetary dislocation.