The Cordoba depreciates against the dollar. Before 2024, the official exchange rate was what's called a sliding peg, so people with income in dollars (like expats or folks receiving remittances) got some relief from these adjustments. But the Nicaraguan government froze the exchange rate this year. So, the official exchange rate penalizes folks with dollar income. My question: is it pretty easy to get non-official exchange rate from money changers?
th-cam.com/video/9ElZEljmcxY/w-d-xo.htmlsi=t3jSTi-m1gitKAiD All is answered in today's video. The Cordoba doesn't depricate without the creeping peg, so if the peg doesn't exist, neither does the deprication. So you aren't missing out on anything with it suspended. There's no lost benefit from having dollars. And there's no black market exchange, the value of the currency is the real value. It's not a fake value like Belize. So no street exchanger would just give you free money for no reason. Legally they can, but logically anyone willing to do that would be instantly too poor to do it again.
I went to a bank in Miami and told the teller I needed new money for a trip to Central America. She patiently went through her drawer picking out ‘fresh’ bills for me..l
@calvinreeves I just recorded a video on why you don't want to bring cash when traveling. If you do bring cash, yes they have to be crisp, but you don't want cash and not US currency normally when traveling. Use that credit card and debit cards, don't bring cash. NOt sure where the "bring cash" idea comes from, but it's scammers making things unnecessarily complicated, expensive and risky. You want enough cash to function, obviously, but you don't want to be bringing your spending money in cash, especially if coming from the US. You don't go to the bank to get cash before going to Tampa, right? Why Nicaragua? It's the same.
it really doesn't matter. you don't bring cash. you go to the atm and take out whatever is useful. what you have back home typically doesn't matter. it converts when you withdraw it.
@@ScottAlanMillerVlog Oops I was told to bring cash actually... already withdrew it. My account is in Euro so I think it would be a bit of trouble to withdraw directly from ATM in Nica...
It should not be, ATMs here work on the global system. That you are in Euro affects nothing, Europeans are here using the ATMs every day. Who told you to bring cash? That's a scammer thing. Typically that's either American propaganda or people who are selling cash services. If you bring cash here, you want it to be Cordoba, not USD. USD works but flags you as a gringo and means you can't pay normal prices for little things because of the granularity. You generally want to pay for anything large on credit card, and anything small with Cordoba. You want a FEW dollars USD for airports or border fees, but that's it. Sadly a lot of scammers out there. At this point, I literally don't know of a single country where bringing cash is advised. THere are still a few, but even Argentina has fixed their cash access issue. So there's nowhere in the western hemisphere where you use cash primarily now. And none where you bring cash with you (super dangerous, totally unnecessary.) You are lucky, Nicaragua is one of just a few countries (Salvador, NIcaragua, Panama and Ecuador) where USD isn't going to cause problems.
nothing changes for normal retirees. unless you do something weird and generally ill advised you are like everyone else with "nothing happens". that you are visiting nicaragua (possibly forever) doesn't matter to the SS system.
@healing_with_nature1 well yeah Chinese already have face recognition programs and point systems to reward and punish their Citizens and it appears that the USA is wanting to copy their platforms. I follow Linnett Zang she believes in precious metals for money however people in that investments havent seen much gains and has said that crypto is like a trojan horse for the USA government to bring in CBDC and thats why crypto has taken off to lure people into getting use to them and the fomo. We can't save money like we use to as it's depreciating is my biggest concern.
I was waiting for this video for a while now. Thanks for the update.
Con gusto!
1:31 doggy was like let me fertilize the grass lol
Thanks Scott for another good video
Great thank you for the info Scott always
Thanks for the video compadre.
The Cordoba depreciates against the dollar. Before 2024, the official exchange rate was what's called a sliding peg, so people with income in dollars (like expats or folks receiving remittances) got some relief from these adjustments. But the Nicaraguan government froze the exchange rate this year. So, the official exchange rate penalizes folks with dollar income. My question: is it pretty easy to get non-official exchange rate from money changers?
th-cam.com/video/9ElZEljmcxY/w-d-xo.htmlsi=t3jSTi-m1gitKAiD
All is answered in today's video. The Cordoba doesn't depricate without the creeping peg, so if the peg doesn't exist, neither does the deprication. So you aren't missing out on anything with it suspended. There's no lost benefit from having dollars. And there's no black market exchange, the value of the currency is the real value. It's not a fake value like Belize. So no street exchanger would just give you free money for no reason. Legally they can, but logically anyone willing to do that would be instantly too poor to do it again.
If you're bringing dollars down to Nicaragua, bring some crispy ones!😊
Yes any tear or marking most places won’t take them only some money changers
yeah. super annoying. but there's no central bank for dollar to exchange york ones for clean ones like in the US
I went to a bank in Miami and told the teller I needed new money for a trip to Central America. She patiently went through her drawer picking out ‘fresh’ bills for me..l
@@calvinreeves Lucky you
@calvinreeves I just recorded a video on why you don't want to bring cash when traveling. If you do bring cash, yes they have to be crisp, but you don't want cash and not US currency normally when traveling. Use that credit card and debit cards, don't bring cash. NOt sure where the "bring cash" idea comes from, but it's scammers making things unnecessarily complicated, expensive and risky. You want enough cash to function, obviously, but you don't want to be bringing your spending money in cash, especially if coming from the US. You don't go to the bank to get cash before going to Tampa, right? Why Nicaragua? It's the same.
Thanks for this!
Thank you for the information.
Excelente, thanks, I will share it, have a great day.
thanks!!
I❤ Nicaragua!!😊
Me too...Greetings!
That link explains it in more detail.
Nicaragua! Tranquilo!!
Ah good because in January I'm coming down and I only have USD....
it really doesn't matter. you don't bring cash. you go to the atm and take out whatever is useful. what you have back home typically doesn't matter. it converts when you withdraw it.
@@ScottAlanMillerVlog Oops I was told to bring cash actually... already withdrew it. My account is in Euro so I think it would be a bit of trouble to withdraw directly from ATM in Nica...
It should not be, ATMs here work on the global system. That you are in Euro affects nothing, Europeans are here using the ATMs every day. Who told you to bring cash? That's a scammer thing. Typically that's either American propaganda or people who are selling cash services. If you bring cash here, you want it to be Cordoba, not USD. USD works but flags you as a gringo and means you can't pay normal prices for little things because of the granularity. You generally want to pay for anything large on credit card, and anything small with Cordoba. You want a FEW dollars USD for airports or border fees, but that's it.
Sadly a lot of scammers out there. At this point, I literally don't know of a single country where bringing cash is advised. THere are still a few, but even Argentina has fixed their cash access issue. So there's nowhere in the western hemisphere where you use cash primarily now. And none where you bring cash with you (super dangerous, totally unnecessary.)
You are lucky, Nicaragua is one of just a few countries (Salvador, NIcaragua, Panama and Ecuador) where USD isn't going to cause problems.
@@ScottAlanMillerVlog thanks Scott. The real estate agent told me to do so....
Thank you for the information.
Do you have information about retirees, how they are able to receive retirement funds from USA. 🇺🇸
nothing changes for normal retirees. unless you do something weird and generally ill advised you are like everyone else with "nothing happens". that you are visiting nicaragua (possibly forever) doesn't matter to the SS system.
Good lock
GOod luck for... what? LOL
Chinese CBDC coming soon...
And most of us dopes thought it would be the USA USD CBDC after they thrash the money printers😂
to where? the US?
@healing_with_nature1 well yeah Chinese already have face recognition programs and point systems to reward and punish their Citizens and it appears that the USA is wanting to copy their platforms.
I follow Linnett Zang she believes in precious metals for money however people in that investments havent seen much gains and has said that crypto is like a trojan horse for the USA government to bring in CBDC and thats why crypto has taken off to lure people into getting use to them and the fomo.
We can't save money like we use to as it's depreciating is my biggest concern.
Apparently Scott is not paying attention to the Chinese take over.
@andrewgomez9571 everything south of Mexico is a Chinese playground
th-cam.com/video/m5sjN-anBQo/w-d-xo.html