Nicaragua Devalues Currency: Nicaragua’s Central Bank announced...
From Times Staff and Wire Reports
Nicaragua Devalues Currency: Nicaragua’s Central Bank announced a 1.3% devaluation of the local currency, the cordoba, against the U.S. dollar. The official exchange rate for the dollar rose to 47,000 cordobas to one from 46,380 to one. In addition, the outgoing Sandinista government announced a 10% rise in the price of a gallon of gasoline, with the new price set at 85,500 cordobas.
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