Nicaragua's Cordoba Explained 🇳🇮 Using Money in Nicaragua

Nicaragua's currency is the Cordoba or NIO, written like this C$500. It is pegged to the US Dollar, but with a creeping peg which is unique and often confusing. Like any currency, most people need to know very little about it and find it very confusing, but today we do our best to explain this little known currency.

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Often thought of as a sliding peg, the creeping peg of the Nicaragua Cordoba sets a slow, constant additional rate of inflation, that can be halted when necessary, on top of the US dollar's own inflation rate. Nicaragua uses dual currencies, but the cordoba is its official, national currency overseen by the central bank.

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