The Ocoña Dollar: A Remnant of Lima’s Financial District
The Ocoña Dollar, as its name suggests, originates from the Ocoña jirón in the historic Plaza San Martín in the center of Lima. Back in the 1980s, this street was transformed into an authentic ‘financial district’ with the emergence of exchange houses. However, its peak came with the introduction of the MUC dollar (Single Exchange Market dollars), an alternative currency with a price controlled by the Peruvian Government, in contrast to the US dollar, which fluctuates based on supply and demand.
This piece of history offers a glimpse into Lima’s financial past and the unique economic environment that existed in the country. The Ocoña Dollar serves as a reminder of the city’s economic evolution and the role of alternative currencies in shaping its financial landscape.