Transactions in Sucre. The graph shows the evolution of trade using the Sucre 2010–2016. Data for the trade volume between all participants are from the Informe de Gestión 2015. Data for Ecuador from the Central Bank of Ecuador.
The SUCRE was first used as a virtual currency in 2010 in two transactions between Ecuador and Venezuela.[1] International trade between member states in SUCRE reached its maximum in 2012 with 2,646 transactions worth almost 1,066 million US dollars. In each following year trade in SUCRE shrank. In 2015 there were 752 transactions worth around 345 million dollars.[2]
The treaty explicitly limited the backing assets of the basket of currencies to financial securities denominated in the respective currencies of the member states. Prohibition of alternative forms of currency backing (such as commodity backing) presented an inequity for Ecuador that, alone in the group, does not have its own national currency (it uses the US dollar).[citation needed]
The SUCRE is named after Antonio José de Sucre, a leading figure in Latin America's independence struggle. Agreement[5] in general terms for the currency was declared in 2009. The formal treaty[4] establishing the regional payments clearinghouse was signed by the six Latin American presidents in Cochabamba, Bolivia, on October 17, 2009. (The former currency of Ecuador, one of the SUCRE's users, was also called the sucre, but was abandoned and replaced by the US dollar after the economic crisis in 1999).
"Data Standards, ISO 4217 - Currency Code Maintenance: Get the Correct Currency Code". www.six-group.com. SIX Group. 2022-10-01. Retrieved 17 October 2022.
"List One: Currency, fund and precious metal codes" (XLS). www.six-group.com. SIX Group. 2022-09-23. Retrieved 17 October 2022.
"List Two: Fund codes registered with the Maintenance Agency" (XLS). www.six-group.com. SIX Group. 2018-08-29. Retrieved 17 October 2022.
"List Three: Codes for historic denominations of currencies and funds" (XLS). www.six-group.com. SIX Group. 2018-08-22. Retrieved 17 October 2022.
"Overview Amendments" (XLSX). www.six-group.com. SIX Group. 2022-09-23. Retrieved 17 October 2022.
^. Laht.com. Archived from the original on 2021-01-25. Retrieved 2016-12-11.
^(PDF). Sucrealba.org. Archived from the original (PDF) on 2017-06-18. Retrieved 2017-03-07.
^"Proposed ALBA currency the sucre poses dilemma for Dominica government". The Dominican.net. Retrieved 2016-12-11.
^ abAgencia Latinoamericana de Información, 2009-10-19, Tratado Constitutivo del Sistema Unificado de Compensación Regional de Pagos (SUCRE)
^(PDF). Gobierno de Bolivia. 2009-04-16. Archived from the original (PDF) on 2009-12-20. Retrieved 2016-12-11.
^. www.elcomercio.com. Archived from the original on 26 March 2013. Retrieved 17 January 2022.
^"PRESIDENT MADURO PROPOSES THE PETRO FOR THE ECONOMIC AGENDA OF ALBA-TCP PETROCARIBE". Petróleos de Venezuela, S.A. 6 March 2018. from the original on 17 January 2022. Retrieved 23 August 2023.
^ [Experts say SUCRE is history]. Newslocker (in Spanish). Archived from the original on 2023-08-26.
December 15, 2023
sucre, this, article, about, recent, currency, ecuadorian, currency, ecuadorian, sucre, other, uses, sucre, disambiguation, this, article, uses, bare, urls, which, uninformative, vulnerable, link, please, consider, converting, them, full, citations, ensure, ar. This article is about the recent currency For the old Ecuadorian currency see Ecuadorian sucre For other uses see Sucre disambiguation This article uses bare URLs which are uninformative and vulnerable to link rot Please consider converting them to full citations to ensure the article remains verifiable and maintains a consistent citation style Several templates and tools are available to assist in formatting such as reFill documentation and Citation bot documentation August 2022 Learn how and when to remove this template message This article needs to be updated Please help update this article to reflect recent events or newly available information April 2012 The SUCRE ˈsukɾe Spanish Sistema Unitario de Compensacion Regional Unified System for Regional Compensation was a regional currency proposed for commercial exchanges between members of the regional trade bloc Bolivarian Alliance for the Americas ALBA which was created as an alternative to the Free Trade Agreement of the Americas FTAA The SUCRE was intended to replace the US dollar as a medium of exchange SUCRESistema Unitario de Compensacion Regional de Pagos Spanish ISO 4217CodeXSU numeric 994 UnitUnitsucreSymbolXSU or sucreIssuanceCentral bankBolivarian Alliance for the Americas ALBA Map of participants in the ALBAHistory edit nbsp Transactions in Sucre The graph shows the evolution of trade using the Sucre 2010 2016 Data for the trade volume between all participants are from the Informe de Gestion 2015 Data for Ecuador from the Central Bank of Ecuador The SUCRE was first used as a virtual currency in 2010 in two transactions between Ecuador and Venezuela 1 International trade between member states in SUCRE reached its maximum in 2012 with 2 646 transactions worth almost 1 066 million US dollars In each following year trade in SUCRE shrank In 2015 there were 752 transactions worth around 345 million dollars 2 The treaty explicitly limited the backing assets of the basket of currencies to financial securities denominated in the respective currencies of the member states Prohibition of alternative forms of currency backing such as commodity backing presented an inequity for Ecuador that alone in the group does not have its own national currency it uses the US dollar citation needed In the case of ALBA members Dominica Saint Vincent and the Grenadines and Antigua and Barbuda the new currency posed a dilemma as they are already a member of the Eastern Caribbean Currency Union and use the East Caribbean dollar 3 although none of them had agreed to the treaty establishing the SUCRE and the regional payments clearinghouse 4 The SUCRE is named after Antonio Jose de Sucre a leading figure in Latin America s independence struggle Agreement 5 in general terms for the currency was declared in 2009 The formal treaty 4 establishing the regional payments clearinghouse was signed by the six Latin American presidents in Cochabamba Bolivia on October 17 2009 The former currency of Ecuador one of the SUCRE s users was also called the sucre but was abandoned and replaced by the US dollar after the economic crisis in 1999 This currency has code XSU in ISO 4217 standard currency list ISO 4217 Standard definition Data Standards ISO 4217 Currency Code Maintenance Get the Correct Currency Code www six group com SIX Group 2022 10 01 Retrieved 17 October 2022 List One Currency fund and precious metal codes XLS www six group com SIX Group 2022 09 23 Retrieved 17 October 2022 List Two Fund codes registered with the Maintenance Agency XLS www six group com SIX Group 2018 08 29 Retrieved 17 October 2022 List Three Codes for historic denominations of currencies and funds XLS www six group com SIX Group 2018 08 22 Retrieved 17 October 2022 Overview Amendments XLSX www six group com SIX Group 2022 09 23 Retrieved 17 October 2022 In 2013 Uruguay joined the currency 6 In 2018 the government of Venezuela proposed using the Petro instead for trade within ALBA 7 8 See also edit nbsp Money portalEconomic policy of the Hugo Chavez government Fedwire CHAPS Clearing House Automated Transfer System CHATS Currency Union Eastern Caribbean dollar A regional currency of the Eastern Caribbean Hard bolivar PetroReferences edit Latin American Herald Tribune Venezuela and Ecuador Make Trade Using New Virtual Currency Laht com Archived from the original on 2021 01 25 Retrieved 2016 12 11 Informe de Gestion 2015 PDF Sucrealba org Archived from the original PDF on 2017 06 18 Retrieved 2017 03 07 Proposed ALBA currency the sucre poses dilemma for Dominica government The Dominican net Retrieved 2016 12 11 a b Agencia Latinoamericana de Informacion 2009 10 19 Tratado Constitutivo del Sistema Unificado de Compensacion Regional de Pagos SUCRE Acuerdo Marco del Sistema Unico de Compensacion Regional de Pagos PDF Gobierno de Bolivia 2009 04 16 Archived from the original PDF on 2009 12 20 Retrieved 2016 12 11 Uruguay solicita adhesion al Sucre sistema monetario de la Alba www elcomercio com Archived from the original on 26 March 2013 Retrieved 17 January 2022 PRESIDENT MADURO PROPOSES THE PETRO FOR THE ECONOMIC AGENDA OF ALBA TCP PETROCARIBE Petroleos de Venezuela S A 6 March 2018 Archived from the original on 17 January 2022 Retrieved 23 August 2023 Expertos afirman que El Sucre ya es historia Experts say SUCRE is history Newslocker in Spanish Archived from the original on 2023 08 26 Retrieved from https en wikipedia org w index php title SUCRE amp oldid 1177559936, wikipedia, wiki, book, books, library,
