Nicaragua, officially Republic of Nicaragua, is a country in Central America. Remittances sent by Nicaraguans working overseas account for over 15% in the country’s GDP. In year 2015, Nicaragua received foreign remittances of over $ 1.19 billion. Most of this was sent from US and Costa Rica.
Currency of Nicaragua is Nicaraguan Cordoba (NIO) but it receives remittances in multiple currencies. Other than native currency NIO, it accepts remittances in US Dollar (USD) and Honduran Lempira (HNL). Therefore, before sending money to Nicaragua, money transfer services should be compared for exchange rate, remittance fee and transfer time for supported currencies.
You can choose an intelligent search and compare platform for international money transfer like ExchangeRateIQ to find the best option. You can even check offers and reviews of various remittance providers to transfer money to Nicaragua. It will surely help you save time and money.
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