Nicaragua: dollar opening price today November 14 from USD to NIO

The dollar is one of the most widely circulated currencies in Nicaragua. (Infobae)

The American dollar paid at the start of operations 35.99 Nicaraguan córdobas on averageso that it implied a change of 0.19% if it is compared with the data of the previous session, when it was quoted at 35.92 Nicaraguan córdobas on average.

If we consider the data of the last seven days, the American dollar scores a raise of 2.62% and for a year has accumulated an increase in 2.24%.

Regarding the variations of this day with respect to previous days, it inverts the value of the previous day, where it ended with a decrease of 0.08%, showing that it is not capable of establishing a stable trend lately. Regarding the volatility of the last days, it is clearly higher than that accumulated in the last year, which indicates that it presents greater changes than the general trend of the value.

Nicaraguan Cordoba

The Cordoba is the monetary unit of legal use in Nicaragua and is abbreviated NIO; it is divided into 100 cents and its circulation is controlled by the Central Bank of that country.

The name of the coin comes in honor of the second surname of the Spanish conqueror, Captain Francisco Hernández de Córdoba, who also founded the cities of Granada and León.

The córdoba was created on August 25, 1908, under the mandate of then President Adolfo Díaz, who issued a 10 córdoba coin and replaced the peso. The new currency had at the time a value of 5 cordobas per pound sterling.

On November 13, 1931, the córdoba began to trade at a parity rate of 1.10 córdobas per US dollar, but after several devaluations it became 7 cordobas per US dollar between 1946 and April 1979.

It was not until 1991 when the government in turn launched a successful monetary stabilization plan that managed to stop the hyper devaluation and stability in prices, exchange and monetary was obtained. As of January 1993, the country switched to the mini-devaluation system, which since 2019 is 3% per year.

In the economic branch, Nicaragua has registered significant falls. In 2018 and 2019 the Gross Domestic Product had decreases of -3% and in 2020 of -2%, although it had a slight increase in 2021, the Nicaraguan economy is only above Venezuela.

Furthermore, under the current government of Daniel Ortegathe World Bank has estimated that poverty increased from 13.5% in 2019 to 14.6% in 2021. In addition to SARS-CoV-2, this country was also prey to the Hurricanes Eta and Lotawhich left great damage.

In addition to this scenario, the sanctions imposed by the United States and the European Union on the nation have forced the country to ally itself with Venezuela, Cuba and China, which was reinforced after the last elections in which Ortega achieved his re-election were branded as fraud.

According to a projection by the Economic Commission for Latin America and the Caribbean (ECLAC), Nicaragua, as well as Guatemala or the Dominican Republic, will not recover their economic level in 2022 to the levels prior to the coronavirus pandemic.

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