Prices of hotels and restaurants have been creeping up over the last few years as Nicaragua has become an increasing well known as a tourist destination; the country is still one of the cheapest to travel in, however. Westerners will find that their money goes a long way, especially in comparison to neighbouring Costa Rica, where tourism is already a very well-established industry.
By staying in shared dormitories, eating at cheap restaurants and traveling on local buses, budget travelers will be able to get by spending as little as $10- $20 a day. If you have a larger budget, then an extra $10 a day will allow you to live much more comfortably. Of course it is also possible to spend a lot more, as Nicaragua has both luxury hotels and expensive restaurants.
US dollars are accepted in many places, as well as Nicaragua’s currency, which is the córdoba; the current rate of 20 to the dollar makes conversion quite easy. A combination of withdrawing money from ATMs and using credit cards is the best way to pay for things. Travelers cheques are hard to use in the country, so don't bother to bring them if you can help it.
Although Nicaragua is not, in general, a dangerous country, wealthy looking tourists can attract attention from thieves. It is a good idea to leave all expensive jewelery, including watches, at home. Be cautious and take precautions, do not carry unnecessarily valuables or large amounts of money on your person. If your hotel has a safe, leave expensive items there.
For more information see the following pages:
Currency in Nicaragua
Banks in Nicaragua
Using Credit Cards in Nicaragua
ATMs in Nicaragua
Using Travelers Cheques in Nicaragua
Wiring Money to Nicaragua