U$1 = 19 cordobas

[tresfrijoles]

Tomorrow the US Dollar will officially be worth 19 cordobas, actually 19.0015 cordobas.

[tresfrijoles]

I can't wait till its 20 cords to the Dollar, then changing money from dollars to cordobas will be so easy. That should happen in about 1.5 years at less Ortega pulls a stunt and hopefully the US doesn't slip to far.

5 cents = 1 cordoba coin
25 cents = 5 cordobas coin
50 cents = 10 cordoba bill
1 dollar = 20 cordoba bill
2.50 dollars = 50 cordoba bill
5 dollars = 100 cordoba bill
10 dollars = 200 cordoba bill (the new bill apparently coming out)
25 dollars = 500 cordoba bill

[TermnalVee]

not that i understand anything about monetary policy, but what amazes me is that even with the dollar's landslide into crapola, somehow the cordoba's planned position relative to the dollar is right on target. I was told one can find out what the exchange will be months in advance. someone tell me how this is possible without knowing the future value of the dollar

[tresfrijoles]

Usually its just 1 month ahead http://www.bcn.gob.ni/estadisticas/tasas/cambio/default1.shtm

[José]

I believe it is 20 now.

[José]

Well actually according to Banco Central De Nicaragua it's 19.6664

[B. Maria Patterson]

Tomorrow the US Dollar will officially be worth 19 cordobas, actually 19.0015 cordobas.


Try 19.6

[FisherCigarman]

$19.85 from the Esteli coyotes.:eek:



Try 19.6

[El Doc]

Unless it's a huge transaction, I just use 20 cords to the dollar. It's too hard to calculate otherwise. I'm always spending dollars there anyways, so I'm sure they appreciate the 5% bonus.

BTW, this programmed evaluation is crippling the country (as planned). Imagine if the bank told you they would give you -5% interest on your savings account. Would you save?

[El Greco]

Well actually according to Banco Central De Nicaragua it's 19.6664
Those 3 sixes are bad vibe!

[Jonh]

The currency converter on our portal page says a dollar is 20.05 cords.

[renco]

The coyotes in front of the Centro BAC in Managua are buying dollars at 19.88 today.

[tresfrijoles]

Try 19.6


The original post was done on February 7, 2008 I was just pointing it out when it hit 19 cordobas for the first time. A bit of a dated post.

[tresfrijoles]

I will tell everyone though, if you want the BEST exchange rate in the entire country, visit a Casino in Managua, they will give you the BEST exchange rate, because most of the people coming in are going to gamble it away anyway, of course after walking up to the cashier getting your exchange, put 1 cordoba in a slot machine, grab a free mixed drink and then walk out the door!

[FisherCigarman]

The family, is a coyote in Esteli,who is a school friend of ours,not only he will give us the best rates,upwards of $.10 cents more that the rest of the coyotes,he will take bad bills as well.
He flat out has told me,that we us,he does NOT make a profit on the exchange:D,and he changes about $8K every 2 weeks for us(payroll purposes), furthermore he drives to our factory, avoiding us from driving to the bank with that kind of money,knowing first hand that at least 3 companies have had their payroll robbed at gun point:).


I will tell everyone though, if you want the BEST exchange rate in the entire country, visit a Casino in Managua, they will give you the BEST exchange rate, because most of the people coming in are going to gamble it away anyway, of course after walking up to the cashier getting your exchange, put 1 cordoba in a slot machine, grab a free mixed drink and then walk out the door!

[Jonh]

I don't know if "coyote" is in the Nica slang thread, but it's a guy who walks around the streets exchanging money. They may look grungy, but they're usually trustworthy people who carry a pocket calculator and show you the math.

[B. Maria Patterson]

The original post was done on February 7, 2008 I was just pointing it out when it hit 19 cordobas for the first time. A bit of a dated post.

oh, sorry, i thought it was posted yesterday.
-maria

[renco]

I will tell everyone though, if you want the BEST exchange rate in the entire country, visit a Casino in Managua, they will give you the BEST exchange rate, because most of the people coming in are going to gamble it away anyway, of course after walking up to the cashier getting your exchange, put 1 cordoba in a slot machine, grab a free mixed drink and then walk out the door!
Have the drink FIRST then sit down and put some money in the machine. Then we will see how fast you leave.

[tresfrijoles]

Have the drink FIRST then sit down and put some money in the machine. Then we will see how fast you leave.

ha! :LMAO:

[El Doc]

Have the drink FIRST then sit down and put some money in the machine. Then we will see how fast you leave.

:cheers: The greatest marketing tool ever!