Nicaragua: opening rate of the euro today, March 15 EUR to NIO

After the opening of the stock market session, the euro is trading at the opening of 39.29 Nicaraguan córdobas, which implied a rise of 0.79% compared to 38.99 Nicaraguan cordobas the previous day.

Compared to the last seven days, the euro registered an increase of 1.42%; despite this, in year-on-year terms, it still accumulates a decline of 6.09%. As for the variations of this day with respect to past days, it chains three successive sessions in positive terms. As for the volatility of recent dates, it is significantly higher than the figure achieved for the last year (6.71%), so it is going through a phase of instability.

In the annual photo, the euro has changed at a high of 40.43 Nicaraguan cordobas, while its lowest level has been 38.44 Nicaraguan cordobas. The euro is closer to its minimum than its maximum.

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 introduced 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 not until 1991 that the administration in turn launched a successful monetary stabilization plan that succeeded in curbing hyper-devaluation and achieved stability in prices, exchange rates and monetary levels. 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 rose from 13.5% in 2019 to 14.6% in 2021. In addition to SARS-CoV-2, 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 fraudulent.

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 replenish its economic level in 2022 as before the COVID-19 pandemic.

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Agencies