How Does the Currency Converter Work?
Our currency converter allows you to quickly calculate the equivalence between two currencies using reference exchange rates. Simply enter the amount, select the source and destination currencies, and you'll get the result instantly.
Central American Currencies
One of the most useful features of our converter is that it includes all Central American currencies, something many online converters don't offer.
Guatemalan Quetzal (GTQ)
The quetzal is Guatemala's official currency, named after the national bird. Its exchange rate is approximately 7.83 GTQ per US dollar.
Honduran Lempira (HNL)
Honduras's currency is named after Chief Lempira, leader of the indigenous resistance. It currently trades at around 24.73 HNL per dollar.
Nicaraguan Córdoba (NIO)
Named after Francisco Hernández de Córdoba, founder of Nicaragua's main colonial cities. Its approximate value is 36.62 NIO per dollar.
Costa Rican Colón (CRC)
Costa Rica's colón honors Christopher Columbus (Cristóbal Colón in Spanish). It's one of the Central American currencies with the highest numerical value against the dollar, at approximately 510 CRC per dollar.
Panamanian Balboa (PAB)
The Panamanian balboa has a unique characteristic: it has been pegged to the US dollar at a 1:1 ratio since 1904. In practice, Panama uses the US dollar for most transactions.
The exchange rates shown are approximate reference values. For real transactions, always check with your bank or exchange office, as rates may vary by provider, amount, and transaction timing.
Factors Affecting Exchange Rates
Exchange Rate = Value of Currency A / Value of Currency B (both relative to a common base like USD)
Key factors:
- Interest rates: Countries with higher rates attract more foreign investment, strengthening their currency.
- Inflation: High inflation weakens the currency by reducing its purchasing power.
- Political stability: Political uncertainty can cause currency depreciation.
- International trade: Trade surpluses strengthen the currency.
- Public debt: High debt levels can weaken confidence in the currency.
Tips for Exchanging Currency
Avoid exchanging currency at airports where rates are usually unfavorable. Look for local exchange offices or use ATMs with cards that don't charge international fees.
- Compare rates before exchanging at different providers.
- Avoid carrying large amounts of cash; use a combination of card and cash.
- Ask about hidden fees beyond the exchange rate.
- Exchange only what you need upon arrival and use local ATMs for the rest.
Exchange rates constantly fluctuate due to market forces: supply and demand, economic events, monetary policy decisions, and geopolitical factors. Even within a single day, the rate can change multiple times.
Generally, it's better to exchange a small amount before the trip for immediate expenses and exchange the rest at your destination, where rates are usually better. Always avoid airports.
While cryptocurrencies have gained popularity, government-backed traditional currencies remain the primary medium of exchange. In Central America, El Salvador adopted Bitcoin as legal tender, but its daily use remains limited.