Nicaraguan córdoba facts for kids

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Nicaraguan córdoba

1 córdoba banknote of the Banco Nacional de Nicaragua (National Bank of Nicaragua), issued in 1941

ISO 4217 Code

NIO

User(s)

Nicaragua

Inflation

7.4%

Source

pedro [1], 2012

Subunit

1⁄100

centavo

Symbol

Coins

5, 10, 25, 50 centavos, C$1, C$5, C$10

Banknotes

C$5, C$10, C$20, C$50, C$100, C$200, C$500, C$1000

The córdoba (sign: C$; code: NIO) is the official money used in Nicaragua. It is divided into 100 smaller units called centavos.

History of the Córdoba
Coins of Nicaragua
Banknotes of Nicaragua
Exchange Rate
Images for kids
See also

History of the Córdoba

The first córdoba was created in 1912 by the government of Adolfo Díaz. It was named after Francisco Hernández de Córdoba, a Spanish explorer. Even though the law was passed in March 1912, the new money didn't start being used until mid-1913 because of political problems.

The córdoba took the place of the old peso moneda corriente. At first, one córdoba was worth about the same as one US dollar.

In 1960, the Central Bank of Nicaragua was started. This bank then took over making and issuing all the banknotes and coins.

Because of big changes in the economy, Nicaragua introduced new versions of its money:

On February 15, 1988, the second córdoba was introduced. One second córdoba was worth 1,000 of the first córdobas.
On April 30, 1991, the third córdoba (also called the córdoba oro or "gold córdoba") was introduced. This one was worth 5,000,000 of the second córdobas!

Coins of Nicaragua

First Córdoba Coins

Coins for the first córdoba were first made in 1912. They came in small values like 1⁄2 and 1 centavo, up to 1 córdoba. The smallest coins were made of bronze, while the larger ones were made of silver. The 1 córdoba coin was only made in 1912.

Over the years, the materials used for coins changed. For example, in 1939, cupro-nickel replaced silver for some coins. In 1943, some coins were made of brass. The last 1 centavo coins were made in 1943. Later, in the 1970s, cupro-nickel 1 córdoba coins and aluminum 5 and 10 centavos were made.

In 1981, a new set of coins was released. These coins showed a picture of Augusto César Sandino, a famous Nicaraguan hero. They included coins from 5 centavos up to 5 córdobas. By 1987, the last coins of the first córdoba were made, including a 500 córdobas coin made of aluminum.

Second Córdoba Coins

No coins were made for the second córdoba. Only banknotes were used during this time.

Third Córdoba Coins (Córdoba Oro)

In 1991, new coins were introduced for the third córdoba. These included 5, 10, and 25 centavos, plus 50 centavos, 1 córdoba, and 5 córdobas.

Since then, new series of coins have been made with different materials like chrome-plated steel, nickel-clad steel, copper-plated steel, and brass-plated steel. In 2007, a 10 córdobas coin was introduced.

In 2012, a special 5 córdobas coin was made to celebrate 100 years since the córdoba was first introduced. More recently, in 2022, new coins for 25 and 50 centavos, 1 córdoba, and 5 córdobas were made using stainless steel and aluminum.

Banknotes of Nicaragua

First Córdoba Banknotes

In 1912, the National Bank of Nicaragua started issuing banknotes. These included values from 10 centavos up to 100 córdobas. Some old peso notes were even stamped with new córdoba values.

Over time, new, higher value notes were introduced, like 500 córdobas in 1945 and 1,000 córdobas in 1953.

A 1,000-córdoba banknote, which was reprinted with a value of 200,000 córdobas during a time of high inflation in the late 1980s.

The Central Bank of Nicaragua took over making banknotes in 1962. As the value of money changed, some smaller notes were replaced by coins. In the late 1980s, Nicaragua experienced very high inflation. This meant that money lost its value quickly. To keep up, the bank had to print very high value notes, like 5,000, 10,000, and even 1,000,000 córdobas! Sometimes, they would even print new values on old notes.

Second Córdoba Banknotes

The second córdoba was only issued as banknotes. These notes were released in 1988 with values from 10 córdobas up to 5,000 córdobas. By 1990, even higher values were needed, with notes reaching 10 million córdobas due to continued inflation.

Third Córdoba Banknotes (Córdoba Oro)

When the third córdoba was introduced in 1991, new banknotes were made. These included small values like 1, 5, 10, and 25 centavos, as well as córdoba notes up to 100 córdobas. The centavo notes were later replaced by coins in 1994.

Today, Nicaraguan banknotes often show famous people from the country's history on the front. The back of the notes usually features important landmarks or beautiful natural places in Nicaragua.

Recent Banknote Series

Since 2009, Nicaragua has continued to update its banknotes.

In 2009, some notes like the 10 and 20 córdobas were made from a special plastic material called polymer, which makes them last longer. New 50, 100, 200, and 500 córdobas notes were also introduced.
In 2010, a special 50 córdobas note was made to celebrate the 50th birthday of the Central Bank of Nicaragua.
In 2012, the bank started issuing new notes with improved security features to prevent fake money. A special 100 córdobas note was released to mark 100 years of the córdoba currency.

In 2015 and 2017, a new set of banknotes was released. Most of these, from 10 to 200 córdobas, are made of polymer. The 500 córdobas note was first made of cotton paper. In 2016, a 1,000 córdobas banknote was introduced to make it easier for people to handle large payments. A special 1,000 córdobas note was also released to honor the famous poet Rubén Darío.

In July 2019, the 500 and 1,000 córdobas banknotes were also changed to polymer, so they would last longer.

Exchange Rate

Since 1991, the Central Bank of Nicaragua has slowly changed the value of the córdoba against the United States dollar. This is done in a planned way to help the economy. For example, as of 2014, the córdoba was set to slowly lose about 5% of its value against the US dollar each year.

Current NIO exchange rates
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