The Central Bank of Nicaragua (BCN), through a Press Release published on January 23, 2023, announced that its Board of Directors decided to establish the sliding rate (crawling peg) of the Cordoba exchange rate with respect to the United States Dollar at 1% per year, which entails a reduction of 1 percentage point compared to the sliding rate of 2 percent in place to date.
According to the statement of the Central Bank, the reduction of the sliding rate will help to offset the effects of international inflation in the Nicaraguan economy and reinforce the predictability of the nominal exchange rate.
This rate will begin to be applied and published in the official monthly exchange rate table starting February 1, 2023.
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