After opening the American dollar It is paid at the beginning of the day 36.62 Nicaraguan cordobas on averagewhich implied a change of 0.18% compared to the 36.56 córdobas of the previous day.
In relation to the profitability of the last seven days, the American dollar records slight changes; Despite this, in the last year it still maintains an increase in 1.14%.
Compared to previous days, the meaning of the previous result changes, which resulted in a decrease of 0.03%, showing in recent days an absence of stability in the results. In the last week the volatility is lower than that accumulated in the last year, so it is having a more stable behavior than the recent general trend indicates.
For this 2024 the Gross Domestic Product (GDP) from Nicaragua will be 2.1%, according to the economic growth projection published by the Economic Commission for Latin America and the Caribbean (ECLAC). The projection is lower than that of 2023, which was placed at 2.4% of GDP, a position behind Mexico.
He Central Bank of Nicaragua (BCN) projected a sustained growth in the global context of the slowdown of the economy, as well as geopolitical uncertainty, supported by macroeconomic policies.
The estimate of growth in economic activity of the BCN for 2024 is between 3.5% and 4.5%, improving by 0.5% compared to 2023, with the expectation that it will remain the same throughout the year, while the inflation is concentrated between 3.0% and 4.0% in the context of international inflation.
He The córdoba is the legal currency 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 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 the then president Adolfo Díaz, who issued a 10-córdoba coin that replaced the peso. The new currency had a value of 5 córdobas per pound at the time.
On November 13, 1931, the córdoba began to be quoted at a parity rate of 1.10 córdobas per US dollar, but after several devaluations this changed to 7 córdobas per US dollar between 1946 and April 1979.
It was not until 1991 when the current administration launched a successful monetary stabilization plan which managed to stop the hyper devaluation and achieved price, exchange and monetary stability. Starting in January 1993, the country moved to the mini-devaluation system, which since 2019 has been 3% annually.
In the economic sector, Nicaragua has registered significant declines. In 2018 and 2019, the Gross Domestic Product had decreases of -3.7% and in 2020 of -2%, however, significant increases followed in 2021 and 2022.
In recent reports, the World Bank has also estimated that under the government of Daniel Ortega, poverty rose by 13% in 2022.
Another of the great challenges that Nicaragua faces this year is that the country remains one of the least developed in Latin America, where access to basic services is a challenge; as well as the ravages caused by the coronavirus pandemic.
Added to this context is that the country is immersed in a major political crisis which has led to Daniel Ortega to assume his fifth term in 2022.
