Nicaragua Currency, Economy
If you’re planning a trip to the Central American country of Nicaragua soon, you may want to familiarize yourself with their currency. This is always a wise step to take and will help you to make wiser purchases and investments whilst in the country. Nicaragua has no import or export restrictions on currency, though amounts greater than US$10,000 or an equivalent to this must be declared.
The currency of Nicaragua is the Nicaraguan Gold Cordoba (NIO). A hundred centavos make one NIO and coins can be obtained in 5, 10, 25 and 50 centavos as well as NIO1 and NIO5 denominations. Notes come in groupings of 10, 20, 50, 100 and 500 NIO. You can usually exchange your money at the airport, at banks or at any of the official foreign exchange bureaus found in most of the country’s major cities. The banks are open from Monday to Friday between 8:30am and 6:30pm and between 8:30am and 12:30pm on Saturdays. Some banks close for lunch during the week.
Other forms of monetary exchange are not freely accepted everywhere, but can prove to be useful in paying for food, accommodation, etc in several of the larger cities. If you plan to use American Express, Diners Club, MasterCard and Visa, it is recommended that you check with your credit card company for details regarding which merchants accept this form of payment at your destination. Travelers checks are also accepted in a number of places. The best form of payment is NIO as this is never rejected. However, if you are carrying large amounts of money, do not make it obvious and carry it close to your person. Another good idea is to hide your cash in hard to find places until you need it. Enjoy your trip to Nicaragua!