March 2022 Exchange Rate 35.6368. The Central Bank of Nicaragua (BCN) publishes the monthly Cordoba/US Dollar exchange rate on their web site. Click here to access the daily rates for the whole of March.
How do they know what the rates will be?
The exchange rate is based on a 2% per annum rate of crawl (depreciation) of the Nicaraguan Córdoba against the US Dollar. It used to move quite quickly when it was 5% per year, then it went down to 3% in 2019 and then 2% in 2020. This “crawling peg” is supposed to minimize economic instability from sharp adjustments in the exchange rate. Link to more on the Cordoba.
Average Weather – Managua
March weather can be hot with daily average high temperatures of 34 ° C and night-time lows of 23 ° C. Drink lots of water and use the shade between dips in the pool or ocean. However, history shows you can expect anywhere between 3 to 8 days where it might rain.
The days will get steadily longer through March. The month starts with 11 hours and 53 mins of daylight on March 1st and increases to 12 hours and 14 mins by March 31st. Source: Ver Calendario
“Flavors of Lent Festivals 2022”
To mark the period of Lent (officially Wednesday, March 2nd to Thursday, April 14th 2022, INTUR (The Nicaraguan Tourism Institute will be sponsoring Flavors of Lent Festivals.
Further information and registration instructions are available at each of the municipal mayor’s offices and local offices of the Nicaraguan Institute of Tourism.
Municipal competitions take place from February 19th to 28th while the departmental competitions run from March 12th to April 2nd 2022 with the ”Grand Final” being held on April 9 at Santo Tomás in Chontales.
Minimum Wage
The new minimum wage goes into effect 1st March. Most employees on the minimum wage system will receive a 7% increase, except for the “Tax Free Trade Zones” workers (Zona Francas) who are on a different regime. The new minimum wage rate is effective from March 1st, until February 28th, 2023 and affects about 180,000 workers.
Click on this Nica-Biz link for information and a chart of the various minimum wage categories.
Looking Ahead to April…
Easter
Holy Week (Easter Week) or Semana Santa for 2022 in Nicaragua starts on Palm Sunday April 10th, 2022. The two Statutory Holidays (that form the traditional Easter long weekend) will be on Thursday the 14th of April and Friday the 15th of April going into the final weekend of the holidays on Saturday and Sunday 16th and 17th of April.
