The córdoba (, sign: C$; code: NIO) is the currency of Nicaragua. It is subdivided into 100 centavos.
History The first córdoba was introduced with the new National Bank of Nicaragua (Banco Nacional de Nicaragua Incorporado) which was created in 1912, after which the government of Adolfo Díaz promulgated the Monetary Conversion Law, in March 1912. This law created the monetary unit "córdoba", named after Francisco Hernández de Córdoba, founder of Nicaragua and the cities of León and Granada, but due to the prevailing political instability at that time, the córdoba did not circulate until 1913. It replaced the peso moneda corriente, the Nicaraguan currency between 1878 and 1912.
In 1960 the Central Bank of Nicaragua (BCN) was founded and the banknotes and coins that until that date were issued by the National Bank of Nicaragua, began to be issued by the central bank.
From 1979 onwards, a period characterised by high inflation began, which caused the currency to lose value and led to the currency exchange and conversion operation of 14 February 1988, in which the córdoba, under the Sandinista regime's "Operation Berta" (Operación Berta), was replaced by the "new córdoba" (córdoba nuevo) at an exchange rate of 1,000 to 1. In the period 1988–1990, the period of high inflation continued, which led to the córdoba nuevo being replaced by the córdoba oro, with parity against the US dollar. In 1992, the "córdoba" was established and persists to this day.
Coins
First córdoba
In 1912, coins were introduced in denominations of , 1, 5, 10, 25, and 50 centavos and 1 córdoba. The and 1 centavo were minted in bronze, the 5 centavos in cupro-nickel and the higher denominations in silver. The 1 córdoba was only minted in 1912, whilst centavo production ceased in 1937.
In 1939, cupro-nickel replaced silver on the 10, 25, and 50 centavos. In 1943, a single year issue of brass 1, 5, 10, and 25 centavos was made. These were the last 1 centavo coins. In 1972, cupro-nickel 1 córdoba coins were issued, followed, in 1974, by aluminium 5 and 10 centavos.
A new series of coins, featuring a portrait of Augusto César Sandino, was introduced in 1981, consisting of aluminum 5 and 10 centavos, nickel-clad steel 25 centavos and cupro-nickel 50 centavos, 1 and 5 córdobas. Nickel clad steel replaced cupro nickel between 1983 and 1984. In 1987, the final coins of the 1st córdoba were issued, featuring Sandino's characteristic hat. Aluminum 500 córdobas were issued.
The 25 and 50 centavo coins, along with 1 córdoba coins, minted in 1985 were mostly recalled and destroyed by the Central Bank. A few of the 1 córdoba were circulated as seen.
Second córdoba
No coins were issued for this currency.
Third córdoba (córdoba oro)
In 1991, coins dated 1987 but actually introduced with that year's re-denomination, in denominations of 5, 10, and 25 centavos and aluminum-bronze 50 centavos. 1 and 5 córdobas were issued.
In 1994, coins were issued in denominations of 5, 10, 25, and 50 centavos. All were minted in chrome-plated steel. In 1997, nickel-clad steel 50 centavos, 1 and 5 córdobas were introduced, followed by copper-plated steel 5 centavos and brass-plated steel 10 and 25 centavos in 2002 and brass-plated steel 10 córdobas in 2007.
+1994 Series Value(₡) Years Composition Shape DiameterWeight Obverse ReverseImage5 Centavos1994Chromium plated SteelCircular15 mm2.1 gNational coat of armsDove over map of Nicaragua with date and value below10 Centavos17 mm2.68 g25 Centavos19 mm3.86 g50 Centavos22 mm4.6 g
+1997 Series Value(₡) Years Composition Shape DiameterWeight Obverse ReverseImage50 Centavos1997Nickel clad SteelCircular22 mm5 gNational coat of armsFace value and date1 Córdoba1997, 200025 mm6.25 g5 Córdobas28 mm7.8 g
+2002 Series Value(₡) Years Composition Shape DiameterWeight Obverse ReverseImage5 Centavos2002Copper plated SteelCircular18.5 mm3 gNational coat of armsFace value and date10 CentavosBrass plated Steel20.5 mm4 g25 Centavos2002, 2003, 200723.25 mm5.1 g1 Córdoba2002, 2007, 2008, 2009, 2010, 2012, 2014Nickel clad Steel25 mm6.25 g
+2007 Series Value(₡) Years Composition Shape DiameterWeight Obverse ReverseImage10 Centavos2007, 2012, 2015AluminiumCircular20.5 mm1.4 gNational coat of armsFace value and date25 Centavos2007, 2014Brass plated Steel23.25 mm5.1 g50 CentavosNickel clad Steel22 mm5 g5 Córdobas28 mm7.8 g10 Córdobas2007Brass plated Steel26.5 mm8.5 gStatue of Andrés Castro with face value, date, and latent image In 2012, the Central Bank issued a 5 Córdobas coin to commemorate the 100th anniversary of the introduction of the Córdoba. +2022 Series Value(₡) Years Composition Shape DiameterWeight Obverse ReverseImage25 Centavos2022AluminiumCircularN/aN/aNational coat of armsFace value and date50 CentavosStainless SteelN/aN/a1 CórdobaN/a6 g5 CórdobasN/aN/a
Banknotes
First córdoba In 1912, the National Bank of Nicaragua introduced notes for 10, 25, and 50 centavos, 1, 2, 5, 10, 20, 50, and 100 córdobas, together with old half- and 1-peso moneda corriente notes overprinted for 4 and 8 centavos of the new currency. In 1934, all circulating banknotes were exchanged for notes which had been overprinted with "REVALIDO" ("revalidated"). The last notes for less than 1 córdoba were dated 1938. In 1945, 500-córdoba notes were introduced, followed by 1,000-córdoba notes in 1953.
In 1962, the Central Bank of Nicaragua took over paper money issuance by a bank resolution of 8 February 1962 and executive decree No. 71 of 26 April 1962. The 1-córdoba notes were replaced by coins in 1972. After 5-córdoba coins were introduced in 1981, 2 and 5-córdoba notes were withdrawn. In 1987, 5000-córdoba notes were introduced, followed by overprinted 10,000 (on 10), 20,000 (on 20), 50,000 (on 50), 100,000 (on 100), 100,000 (on 500), 200,000 (on 1,000), 500,000 (on 1,000), and 1,000,000 (on 1,000) córdobas notes as inflation drastically reduced the córdoba's value.
Second córdoba The second córdoba was only issued in banknote form. Notes (dated 1985) were issued in 1988 in denominations of 10, 20, 50, 100, 500, and 1000 córdobas together with undated 5000 córdobas. In 1989, notes for 10,000, 20,000, 50,000, and 100,000 córdobas were introduced, followed the next year by 200,000, 500,000, 1 million, 5 million, and 10 million córdobas notes.
Third córdoba (córdoba oro)
In 1991, notes were introduced for 1, 5, 10, and 25 centavos, , 1, 5, 10, 20, 50, and 100 córdobas. The notes below 1 córdoba were replaced by coins in 1994, with 5 córdobas notes also being replaced in 1997. 500 córdobas notes were introduced in 2002.
Famous people from Nicaragua's history are depicted on the obverses of the current banknotes. The reverses depict landmarks or natural habitats in the country.
+ 2002 series (Resolution of 10 April 2002) Image Value Main Color Description Date of printing Obverse Reverse C$10 Green Miguel Larreynaga Islets of Granada 2002 C$20 Orange José Santos Zelaya Atlantic Beach C$50 Purple Pedro Joaquín Chamorro Fortress of El Castillo de la Inmaculada Concepción C$100 Blue Rubén Darío Rubén Darío National Theatre C$500 Red José Dolores Estrada Hacienda San Jacinto
2009 series
On May 15, 2009, polymer ten and twenty córdoba notes were issued to circulate alongside their paper counterparts. A new polymer two hundred and a paper one hundred córdoba banknote was first issued on June 1, 2009. A new polymer 50 córdoba was issued on December 3, 2009. The new designed paper 500 córdoba banknote was introduced on January 12, 2010.Articles on the banknote issues of Nicaragua BanknoteNews.com. Retrieved 2010-01-18. A commemorative design of the 50 córdobas was introduced on September 15, 2010, to commemorate the Banco Central de Nicaragua's 50th anniversary of its establishment. In 2012, the Banco Central de Nicaragua (Central Bank of Nicaragua) began issuing a new series of córdoba banknotes with revised security features, beginning with the 10, 20, and 200 córdoba polymer banknotes, which is similar to their first issue, but the notable change is the embossed "10", "20", and "200" on the see-through window now being of an opaque white.Nicaragua new 10-córdoba note confirmed BanknoteNews.com. July 19, 2012. Retrieved on 2012-10-28. Nicaragua new 20-córdoba note confirmed BanknoteNews.com. August 21, 2012. Retrieved on 2012-10-28.Nicaragua new 200-córdoba note confirmed BanknoteNews.com. October 4, 2012. Retrieved on 2012-10-28.
The 100 córdoba banknote was also revised. The notable differences from the first issue is that the note was issued on the 100th anniversary of the córdoba currency. Also notable is the wider security thread, a revised registration device, a repositioned serial number, subtle underprint design changes and the commemorative text "1912-2012 Centenario del Córdoba" in pearlescent ink at the left front of the note.Nicaragua new 100-córdoba commemorative note confirmed BanknoteNews.com. September 8, 2012. Retrieved on 2012-10-28. The 500 córdoba banknote was also revised. The most notable change for the note is the bank logo patch, now a holographic patch instead of an optically variable device and a wider security thread.Nicaragua new 500-córdoba note confirmed BanknoteNews.com. October 12, 2012. Retrieved on 2012-10-28 + 2009 series (Resolution of 12 September 2007) Image Value Dimensions Main Colour Description Date of Obverse Reverse Obverse Reverse Watermark printing issue 10 córdobas1 131 × 67 mm Green Fortress of the Immaculate Conception, Rio San Juan Hacienda San Jacinto "10", slighted tilted above El Castillo on the upper right hand side. 2009 May 15, 2009 20 córdobas2 136 × 67 mm Yellow Hut of natives on the eastern coast of the Caribbean. Illustration of the Palo de Mayo dance "20", Girl pounding grain 50 córdobas 141 × 67 mm Violet National ceramic of Nicaragua Canyon of Somoto National ceramic of Nicaragua, "50" watermark December 3, 2009 67 x 141 mm First building of the Central Bank "50" watermark 2010 September 16, 2010 100 córdobas 146 × 67 mm Blue Monument to Rubén Darío León Cathedral Emblem of the Central Bank of Nicaragua; watermark of a lion. 2009 June 1, 2009 200 córdobas 151 × 67 mm Brown El Güegüense Ometepe Island, the national bird, the Momotus momota. "200", The Güegüense with watermark and cape. 500 córdobas 156 × 67 mm Red Residential Museum of Augusto César Sandino Native statues "500" watermark, Sandino 2010 January 12, 2010
2015 and 2017 series On 26 October 2015, the Banco Central de Nicaragua introduced a new family of banknotes in denominations of 10, 20, 50, 100, 200, and 500 Córdobas. The six lower denominations are printed in polymer, while the 500 Córdobas note is printed on cotton paper substrate.Nicaragua new note family (B506 - B511) confirmed BanknoteNews.com. October 28, 2015. Retrieved on 2015-10-31. On 1 December 2016, the Banco Central de Nicaragua introduced a 1,000 Córdobas banknote to ease high-value transactions. A commemorative design was issued on 1 December 2016 to commemorate the 100th anniversary of the death of poet Rubén Darío and a regular issue was issued on 2 January 2017.Nicaragua new 1,000-córdoba note (B513) to be introduced 02.01.2017 BanknoteNews.com. November 22, 2016. Retrieved on 2016-11-22.Nicaragua new 1,000-córdoba commemorative note (B512) to be introduced 01.12.2016 BanknoteNews.com. November 22, 2016. Retrieved on 2016-11-22.Nicaragua new 1,000-córdoba commemorative note (B512) confirmed introduced 01.12.2016 BanknoteNews.com. December 2, 2016. Retrieved on 2016-12-06.
In July 2019, the 500 and 1000 Córdoba banknotes were reissued in polymer, to circulate in parallel with existing issues.