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Money, I thought I had it figured out...

atlanta
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97 posts
9 reviews
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Money, I thought I had it figured out...

I've traveled to many countries in the past, and I've always used the local currency. I normally head to an ATM within the airport and take out what I need. But I just finished reading a thread that mentioned not doing this...

"DONT get money at the airport. You will lose 20% right away on the exchange. its by far the worst place to exchange money. You can exchange money in any market, or any bank. Most places tourists go will take dollars anyway, and your change comes back in cordobas, so thats also an easy way to build up some local currency."

Soooo. is this true??? What do you suggest - what are your experiences??

Nicaragua
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1. Re: Money, I thought I had it figured out...

You can use the ATM at the airport is not a problem But "EXCHANGE" at the booth that says Global Exchange maybe not as their exchange rate is the worst in the country you will loose money by changing here, any city as Leon , Granada, SJDS Masaya, you will find outside of the banks or close to the Markets people waiving a big amount of Money we call them coyotes "money exchange people" their rate is quite similar to the bank so with them will not be a problem or go to a local bank.

Managua, Nicaragua
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2. Re: Money, I thought I had it figured out...

The exchange in the airport gives you about 20 cordobas per dollar. Elsewhere you can get 25+ cordobas per dollar.

The ATM's are different though and give you the bank rates.

If you are going to a touristy place like Granada or San Juan Del Sur you can pretty much use your dollars in 100% of the places. The only problem you might run into is if you only have large bills and are only buying some gum from a local pulperia. They might not have enough change to give you (even if you pay in dollars, your change comes back in cordobas).

Comox, Canada
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3. Re: Money, I thought I had it figured out...

Do not do the gringo thing and only use USD. You will end up being shortchanged. Get USd out of the atm and then use the coyotes ( they prefer the title cambista) they are licensed. Change a bit at a time. You might notice the odd restaurant charging in USd mostly to protect against Cordoba fluctuations. However those ones generally then convert back to Cords and present that as the bill. If you must use USD then keep to small notes.

I recall my first visit to a cafe in Granada when I used usd then went back after getting some cords and realized the price in Cords was maybe 10% cheaper. The comment re the airport is common at all airports where you use the booths, the exchange rates are horrible. Enjoy

4. Re: Money, I thought I had it figured out...

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