What currency (money) does Nicaragua use?
Mike Cobb - ECI Development
The currency in Nicaragua is the Cordoba. It is informally pegged to the U.S. Dollar at 25 Cordobas to the Dollar Nov 2013. It drops in value about 5-6% per year so by Nov 2014, it will be roughly 26 to 1.
The currency in Nicaragua is the Cordoba. It is informally pegged to the U.S. Dollar at 25 Cordobas to the Dollar Nov 2013. It drops in value about 5-6% per year so by Nov 2014, it will be roughly 26 to 1.
Posted January 20, 2014
Gabriel Sánchez - PRONicaragua
The official currency of Nicaragua is the Cordoba, but US dollars are also widely accepted, as well as credit cards. The Nicaraguan Cordoba devaluates 5% annually in relation to the US dollar, so you have a fixed devaluation, which also gives you predictability. You know how the exchange rate is going to behave and you can easily convert US dollars to Cordobas or vice versa, so there’s need to have to research the currency exchange.
...
The official currency of Nicaragua is the Cordoba, but US dollars are also widely accepted, as well as credit cards. The Nicaraguan Cordoba devaluates 5% annually in relation to the US dollar, so you have a fixed devaluation, which also gives you predictability. You know how the exchange rate is going to behave and you can easily convert US dollars to Cordobas or vice versa, so there’s need to have to research the currency exchange.
The current exchange rate for today is 26.4 Cordobas to one US dollar.
The government of Nicaragua publishes an official exchange rate in the central bank. Every month you have the exact exchange rate for each day. However, if you are buying or selling US dollars, there is a slight variation in the market price for the exchange rate, due to what the banks charge.
Posted November 14, 2014
Frank Martínez
Nicaragua’s legal currency is the Cordoba, but US dollars are used for the economy. The prices you see are in dollars. For example, food prices in restaurants, for cars, houses, and a lot of appliances are in dollars. Telephone companies sell their models in dollars. Businesses still take Córdobas, but the dollar is freely exchangeable. You can use US dollars at local stores, supermarkets and hotels; anywhere. Businesses will take your...
Nicaragua’s legal currency is the Cordoba, but US dollars are used for the economy. The prices you see are in dollars. For example, food prices in restaurants, for cars, houses, and a lot of appliances are in dollars. Telephone companies sell their models in dollars. Businesses still take Córdobas, but the dollar is freely exchangeable. You can use US dollars at local stores, supermarkets and hotels; anywhere. Businesses will take your dollars because of the free currency exchange. You can buy anything for US $1 or 26 Córdobas. We are somewhat like Panama. Panama has a currency, but nobody uses it because they all use dollars. They have millions of US dollars in their economy. In Nicaragua, it's half and half. Half of the transactions are in dollars, and half are in Córdobas.
If you want to buy a beer, just pay a buck, and they’ll take it anywhere.
Posted April 9, 2015
Mario Robleto - SAENICSA Accounting and Tax Services
Nicaragua uses the Cordoba as its official currency.The Cordoba is pegged to the US dollar, and once a year, it’s devalued relative to the dollar.
You could use US dollars pretty much everywhere in Nicaragua. Yes, there’s places that won’t accept them for a reason but that’s very seldom heard of. Dollars are pretty much widely accepted.
A lot of salaries are paid in dollars, so using dollars is not a hindrance. Every...
Nicaragua uses the Cordoba as its official currency.The Cordoba is pegged to the US dollar, and once a year, it’s devalued relative to the dollar.
You could use US dollars pretty much everywhere in Nicaragua. Yes, there’s places that won’t accept them for a reason but that’s very seldom heard of. Dollars are pretty much widely accepted.
A lot of salaries are paid in dollars, so using dollars is not a hindrance. Every once in a while you might be shortchanged in exchange rate. For example, you go to a restaurant and the newspaper says the exchange is 28 Córdobas to a dollar but the person at the restaurant says, “How do you know? It’s 27.5 Córdobas to a dollar” You might lose a little bit but it’s not substantial.
(Platter of Nicaragua food, picutred.)
Posted March 6, 2016