Money, Budget, and Shopping in Nicaragua

Money

Currency

Currency: Córdoba (100 centavos).

Banknotes: 10, 20, 50, 100, 200, and 500 C$.

Coins: 5, 10, 25, and 50 centavos + 1, 5, and 10 C$.

Exchange:

Although everyone refers to it as the córdoba, the official name of the currency is the *Córdoba oro* (Cordoba oronicaragüense), designated as such after its introduction in the 1990s to distinguish it from the earlier Córdoba nicaragüense.

Exchange

Major foreign currencies can be exchanged in the country at more or less fair rates. In practice, you’ll find exchange counters in most major banks in cities, as well as casas de cambio—independent exchange offices—plus ATMs, which are increasingly common and some of which dispense both dollars and córdobas. Banks are generally open on weekdays until around 5:00 PM and on Saturday mornings.

It’s also possible to exchange money with street vendors. The practice is legal but requires some caution and awareness of the day’s exchange rate to avoid being shortchanged. At best, it’s a stopgap option or useful at land borders with other countries where banks are unavailable or closed.

Which currency to bring

While the official currency is the córdoba, it’s often possible to pay directly in US dollars (in good condition) at some shops or hotels—just verify that the exchange rate offered is fair. Some prices, especially for tourist services, may even be listed directly in US dollars.

In short, Nicaragua is one of those (few) countries where it can still be useful to carry US dollars in cash to pay for services quoted in that currency. You can also bring euros to exchange when you find a good rate. Otherwise, as always, card payments are simpler.

Payment methods

Card payments are accepted mainly in large hotels, car rental agencies, and some shops in major or tourist cities. However, watch out for bank fees if you make too many small purchases or withdrawals. It’s best to carry a stock of local cash (small bills preferred) and some US dollars as backup.

Upon return

The córdoba isn’t easily exchangeable at good rates outside the country. The simplest approach is to exchange money as needed during your trip or end your stay with dollars, which you can always use or exchange later if you have any left.

Budget

Like many other Latin American countries, Nicaragua remains affordable to travel in and is far cheaper than its neighbor Costa Rica. If you use local transport, eat at small restaurants or markets, and stay in budget hostels, you can get by on around 22 to 35 € per day (or even less if you stick to the basics) for two people. However, for more comfort and convenience, a slightly higher budget is more realistic. That said, the country’s growing tourism industry could eventually drive up costs...

What can be expensive

The Christmas and Easter periods, when prices rise.

What can be cheap

Transport, and even budget car rentals when splitting costs with others.

Eating local food.

Price range

Basic double room: under a dozen US dollars.

Mid-range tourist hotel double room: the 20–25 US$ range offers good options.

Local restaurant meal: from 2 or 3 US$ (at markets) to 4 or 5 US$ (in comedores).

Tourist restaurant meal: around ten US dollars or more.

Budget car rental: expect 25 to 30 US$/day for the cheapest options (or around sixty for a 4x4).

One hour of local bus: under 1 US$ per hour in *chicken buses*, or two to three times more in "classic" buses.

Urban taxi: roughly 1 US$ per ride outside the capital, where prices are higher.

Urban bus:

Bargaining and tipping

Bargaining

Bargaining is expected in Nicaragua’s many markets. You can also negotiate (or agree on) fares with taxis that don’t have meters, and occasionally on accommodation for longer stays in the low season.

Tipping

While tipping isn’t mandatory, even in tourist areas where the practice is becoming more common, it’s always appreciated given local wages. Consider leaving a small amount at restaurants (especially small ones where service isn’t included), taxis, hotels if you’re satisfied, parking attendants (who’ll "watch" your vehicle better), and guides during excursions—around 10% of the price is a good benchmark.