Nicaragua’s central bank announced that it will implement a fixed peg for the Nicaraguan cordoba (NIO) from 2024 onwards. Until that time, the current 1% crawl rate will remain. This decision is based on positive macroeconomic indicators, including increasing economic activity, balanced public finances, a stable financial system, and a rise in FX reserves. The bank emphasized that it did not intervene in foreign currency sales since August 2020, and believes that reducing the crawl rate will fortify the national currency and help counteract the impacts of global inflation on the economy.