Nicaraguan córdoba

Nicaraguan córdoba

Córdoba nicaragüense (Spanish)
1 córdoba banknote issued in 1941, displaying the daughter of Anastasio Somoza García[1]
ISO 4217
Code	NIO (numeric: 558) before 1991: NIC
Subunit	0.01
Unit
Symbol	C$‎
Denominations
Subunit
​1⁄100	centavo
Banknotes	C$10, C$20, C$50, C$100, C$200, C$500, C$1000
Coins	10, 25, 50 centavos, C$1, C$5, C$10
Rarely used	5 Centavos, 10 Cordobas
Demographics
Date of introduction	1912[2]
Replaced	Nicaraguan peso
User(s)	Nicaragua
Issuance
Central bank	Central Bank of Nicaragua
Website	www.bcn.gob.ni
Valuation
Inflation	0.87% (2025)[3]

The córdoba (es, sign: C$; code: NIO) is the currency of Nicaragua. It is subdivided into 100 centavos.^[4]

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.^[5]

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.^[5]

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.^[5][6]

In 1912, coins were introduced in denominations of ​¹⁄₂, 1, 5, 10, 25, and 50 centavos and 1 córdoba. The ​¹⁄₂ 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 ​¹⁄₂ centavo production ceased in 1937.

In 2012, the Central Bank issued a 5 Córdobas coin to commemorate the 100th anniversary of the introduction of the Córdoba.^[12]

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.^[16] 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.

In 1991, notes were introduced for 1, 5, 10, and 25 centavos, ​¹⁄₂, 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.

On May 15, 2009, polymer ten and twenty córdoba notes were issued to circulate alongside their paper counterparts.^[17] 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.^[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.^[19] 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.^{[20] [21][22]}

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.^[23] 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.^[24]

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.^[25] 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.^[26][27][28]

In July 2019, the 500 and 1000 Córdoba banknotes were reissued in polymer, to circulate in parallel with existing issues.^[29]

2015–2017 series (resolution of 26 March 2014)

Image		Value	Dimensions	Main Color	Description		Material	Date of issue
Obverse	Reverse				Obverse	Reverse
File:5 Cordobas front.jpg		C$5	126 x 67 mm	Grey	Building of the nicaraguan central bank	Las Piedrecitas overpass	Polymer	October 2015
		C$10	131 x 67 mm	Green	Puerto Salvador Allende, Managua	La Vaquita (Patron Saint festivities of Managua)
		C$20	136 x 67 mm	Orange	Moravian church, Laguna de Perlas	Mayo Ya Festival
		C$50	141 x 67 mm	Violet	Artisan Market, Masaya	Folkloristic ballet
		C$100	146 x 67 mm	Blue	Cathedral of Granada	Horse cart
		C$200	151 x 67 mm	Brown	Rubén Darío National Theater, Managua	El Güegüense comedy ballet
		C$500	156 x 67 mm	Red	Cathedral of León	Momotombo Volcano	Paper
							Polymer	July 2019
		C$1,000	161 x 67 mm	Dark green	Nicaraguan poet Rubén Darío	Poem by Darío	Paper	December 2016[30]
					Hacienda San Jacinto, Tipitapa	Castle of the Immaculate Conception, Río San Juan		January 2017
			156 x 67 mm				Polymer	July 2019

In 1991, the Central Bank of Nicaragua established a crawling peg scheme in accordance with FMI exchange rate policies with a 12% annual rate of devaluation; "as of 2014"^[update], this scheme continued to devalue the córdoba against the United States dollar by 5% per annum and decrease further at 3% per annum, subsequently.^[31] Since January 2024 the Nicaraguan Central Bank has maintained a fixed exchange rate of 36.6243 córdobas to one US dollar. ^[32]

• US$1 =
  • 36.6243 (Banco Central de Nicaragua) (April 6, 2025)
  • 36.773 (XE) (November 2024)
  • 32.949 (XE) (July 2019)
  • 25.005 córdobas (August 2013)(XE)
  • 20.865 (Yahoo) or 20.8623 (XE) or 20.5250 (Oanda) (January 10, 2010)
  • 20.425 (Yahoo) or 20.4263 (XE) or 20.222 (Oanda) or 20.4268 (Central Bank of Nicaragua) córdobas (August 4, 2009)
  • 18.032 (Yahoo) or 19.874 (XE) or 20.113 (Oanda) córdobas (January 3, 2009)
  • 18.032 córdobas (June 19, 2008)
  • 18.032 córdobas (April 24, 2007)
  • 17.066 córdobas (June 5, 2006)
  • 17.1754 córdobas (January 13, 2006)
  • 16.300 córdobas (April 2005)
  • 15.5515 córdobas (December 2003)
• €1 =
  • 38.899 (XE) (November 2024)
  • 37.084 (XE) (July 2019)
  • 36.9441 (XE) (October 23, 2018)
  • 30.0562 (Yahoo) or 30.0772 (XE) or 29.5661 (Oanda) (January 10, 2010)
  • 29.3674 (Yahoo) or 29.3721 (XE) or 28.93586 (Oanda) córdobas (August 4, 2009)
  • 25.1033 (Yahoo) or 27.532 (XE) or 28.008 (Oanda) córdobas (January 3, 2009)
  • 29.8987 córdobas (June 19, 2008)
  • 24.583 córdobas (April 24, 2007)
  • 22.1168 córdobas (June 5, 2006)
  • 19.910 córdobas (January 2006)
  • 21.361 córdobas (April 2005)
  • 19.6462 córdobas (December 2003)

• Economy of Nicaragua

• Article on Currency – Córdoba
• Pictures of Nicaraguan banknotes and coins
• Banco Central de Nicaragua: Billetes y Monedas
• The banknotes of Nicaragua Script error: The function "in_lang" does not exist.

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