At the beginning of the day, the euro was paid at the opening ceremony of the Nicaraguan Cordoba of 39.09, which represents a 38.88 increase of 0.54 percent compared to the day before when it closed in Nicaraguan Cordoba.
Compared to the profitability of the last 7 days, the euro has risen by 1.69%, and on the contrary, it is still maintaining a decrease of 6.06% compared to the previous year. It reverses the previous day's price, which fell 0.27% compared to the previous day, showing that it is not possible to establish a clear trend on recent dates. Recent volatility is higher than the volatility accumulated last year, thus showing a larger change than the overall value trend.
Last year, the euro rose to $40.43 in Nicaraguan Cordoba, and the lowest level was 38.44 Nicaraguan Cordoba. The euro is closer to the minimum value than to the maximum value.
Nicaraguan
Cordoba is a monetary unit legally used in Nicaragua and abbreviated to NIO; it is divided into 100 cents and transit is controlled by the country's central bank.
The name of the coin comes in honor of the second surname of Captain Francisco Hernandez de Córdoba, the Spanish conqueror who founded the cities of Granada and León.
Cordoba was created on August 25, 1908 by order of the then president, Adolfo Diaz, who issued 10 Cordoba coins and replaced the pesos. At that time, the value of the new currency was 5 cordovas per pound sterling.
On November 13, 1931, Cordoba began trading at a parity rate of 1.10 Cordoba per US dollar, but after several devaluations, it rose to 7 Córdoba per US dollar between 1946 and April 1979.
It was not until 1991 that the government launched a successful monetary stabilization plan that removed overvaluation and managed to achieve stability in prices, exchange rates and currencies. In January 1993, the country switched to a mini-assessment system, which has been 3% per year since 2019.
In theeconomic sector, Nicaragua recorded a significant decline. In 2018 and 2019, gross domestic product declined by -3% and -2% in 2020, although it increased slightly in 2021, but Nicaragua's economy is superior to that of Venezuela.
In addition, under Daniel Ortega's current government, the World Bank has estimated that poverty has risen from 13.5% in 2019 to 14.6% in 2021. In addition to SARS-CoV-2, the country was fueled by hurricanes Eta and Lota, which caused great turbulence.
In addition to this scenario, the sanctions against the countries of the United States and the European Union led to alliances with Venezuela, Cuba and China, which intensified after the last election in which Ortega won the re-election was characterized as fraud.
According to forecasts by the Economic Commission for Latin America and the Caribbean (ECLAC), Nicaragua and Guatemala or the Dominican Republic will not regain their economic levels in 2022, as before the SARS-CoV-2 pandemic.
Agencies
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