Dollar: closing price today, March 14 in Nicaragua

Last day the US dollar was paid at the close to 39.50 Nicaraguan córdobas, representing 0.08% compared to 39.53 Nicaraguan Córdobas the previous day.

In the last week, the US dollar marked an increase of 11.37%, which is why for a year it has still maintained a rise of 13.18%. In relation to the variations of this day compared to previous days, the meaning of the previous result changed, where it marked an increase of 0.03%, showing in recent days an absence of stability in the result. The volatility for the last week was 66.96%, which is clearly higher than the annual volatility figure (13.92%), so the value changes more than the general trend.

In the annual photo, the US dollar has reached a maximum of 39.53 Nicaraguan córdobas, while its lowest level has been 34.75 Nicaraguan córdobas. The US dollar is closer to its value than to the minimum.

Nicaraguan

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

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

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

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

It was until 1991 that the administration in turn launched a successful monetary stabilization plan that managed to curb hyper-devaluation and obtained stability in prices, exchange rate and currency. As of January 1993, the country switched to the mini-evaluation system, which since 2019 has been 3% per annum.

In economic terms, Nicaragua has recorded significant falls. In 2018 and 2019 the Gross Domestic Product decreased by -3% and in 2020 by -2%, although it increased slightly in 2021, the Nicaraguan economy is only above Venezuela.

In addition, under the current government of Daniel Ortega, the World Bank has estimated that poverty increased from 13.5% in 2019 to 14.6% in 2021. In addition to the coronavirus, this country also fell prey to hurricanes Eta and Lota, which left great havoc.

In this context, it is added that the United States and European Union sanctions on the nation have led the country to ally 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 reach its economic level in 2022 as before the COVID-19 pandemic.

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Agencies