The euro is trading at the opening to 39.40 Nicaraguan córdobas on average, so it represented a rise of 1.22% compared to the previous day's value, when it scored 38.92 Nicaraguan cordobas on average.
Taking into account the last seven days, the euro marked an increase of 1.59%, although, on the contrary, for a year it has still accumulated a decrease of 5.19%. Analyzing this data with that of past dates, it turns the tables on the previous day, in which it marked a decrease of 0.36%, showing that it is not able to establish a stable trend in recent times. In reference to the volatility of the last week, it is higher than that accumulated in the last year, so it shows greater changes than the general trend in value.
In the annual photo, the euro has changed by a maximum of 40.43 Nicaraguan córdobas on average, while its lowest level has been 38.44 Nicaraguan cordobas on average. The euro is placed 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 officially constituted 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 the economic sector, 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.
Inaddition to this scenario, 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 won 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 recover its economic level in 2022 as before the SARS-CoV-2 pandemic.
Agencies
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