Introduction

Currency and banks

Introduction

In Nicaragua the currency is the Nicaraguan córdoba (C$),  named after the Spanish conquistador Francisco Hernández de Córdoba who founded the two Nicaraguan cities of León and Granada. The córdoba is divided into 100 centavos. Although the country has it’s own currency, the American dollar is widely accepted.

Foreign currencies

According to the World Bank  Nicaragua is still one of Latin America’s least developed countries, however the country has experienced an economic turnaround. Despite the rate of inflation now being relatively stable, expats still tend to set up their Nicaraguan bank accounts in dollars or euros to avoid any fluctuation, which can both be withdrawn from ATMs around the country.

Bear in mind however that if you are withdrawing from your bank back home, you are likely to be paying some form of international fee which can be fairly substantial.

Banks

The main national bank of Nicaragua is Banco Central de Nicaragua  (BCN). The main commercial banks are Banco de Fianzas  (BDF) and Banco de la Producción  (Banpro). The international banks Citibank  and Banco Procredit  also have branches in Nicaragua.

Online and telephone banking are widely used throughout the country.

Opening hours

The opening hours of most banks in Nicaragua is from 08:30 - 16:00 weekdays and from 08:30 - 12:00 on Saturdays. Just like the schools and government offices in Nicaragua, banks are also closed on public holidays.

Further reading

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