Nicaraguan córdoba

Nicaraguan córdoba
Córdoba Nicaragüense (Spanish)
ISO 4217 code	NIO
User(s)	Nicaragua
Inflation	3.70%
Source	[2], 2010
Subunit
1/100	centavo
Symbol	C$
Coins	5, 10, 25, 50 centavos, C$1, C$5, C$10
Banknotes	C$10, C$20, C$50, C$100, C$200, C$500
Central bank	Central Bank of Nicaragua
Website	www.bcn.gob.ni

The córdoba (Spanish pronunciation: [ˈkorðoβa], sign: C$; code: NIO) is the currency of Nicaragua. It is divided into 100 centavos

History

The first córdoba was introduced on March 20, 1912. It replaced the peso at a rate of 12½ pesos = 1 córdoba & was initially equal to the US dollar. It was named after the founder of Nicaragua, Francisco Hernández de Córdoba.

On February 15, 1988, the 2nd córdoba was introduced. It was equal to 1000 1st córdobas. On April 30, 1991 the third córdoba, also called the córdoba oro, was introduced, worth 5,000,000 2nd córdobas. As of September 17, 2009, 20.555 córdobas oro equals one dollar.

Coins

First córdoba

In 1912, coins were introduced in denominations of ½, 1, 5, 10, 25 and 50 centavos and 1 córdoba. The ½ & 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 ½ centavo production ceased in 1937.

In 1939, cupro-nickel replaced silver on the 10, 25 & 50 centavos. In 1943, a single year issue of brass 1, 5, 10 & 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 & 10 centavos, nickel-clad steel 25 centavos & cupro-nickel 50 centavos, 1 & 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 5, 10 & 25 centavos and aluminium-bronze 50 centavos, 1 & 5 córdobas were issued, together with aluminium 500 córdobas.

25 centavos,50 centavos & 1 córdoba minted in 1985 were mostly recalled and destroyed by central bank. a few of 1 cordoba were circulated as seen.

2nd córdoba

No coins were issued for this currency.

3rd córdoba (córdoba oro)

In 1994, coins were issued in denominations of 5, 10, 25 & 50 centavos. All were minted in chrome-plated steel. In 1997, nickel-clad steel 50 centavos, 1 & 5 córdobas were introduced, followed by copper-plated steel 5 centavos & brass-plated steel 10 & 25 centavos in 2002 & brass-plated steel 10 cordobas in 2007.

All current coins have the coat of arms of the country on the obverse and the numeral of the denomination on the reverse.

1997 Series
Value	Technical parameters			Description			Date of first minting
	Diameter	Mass	Composition	Edge	Obverse	Reverse
5 centavos	18.5 mm	3 g	Copper plated steel	Plain	Coat of arms	Value, "EN DIOS CONFIAMOS"1, year of minting	2002
10 centavos	20.5 mm	4 g	Brass plated steel	Reeded and plain sections	Coat of arms	Value, "EN DIOS CONFIAMOS", year of minting	2002
25 centavos	23.2 mm	5 g
50 centavos			Nickel clad steel		Coat of arms	Value, "EN DIOS CONFIAMOS", year of minting	1997
1 córdoba
5 córdobas
10 cordobas	26.5 mm	8.5 g	Brass plated steel	Lettered	Coat of arms	Value, figure, year of minting	2007
For table standards, see the coin specification table.

Remarks

1. "EN DIOS CONFIAMOS" - In God we trust

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 50 centavos and 1 peso 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 córdobas notes were introduced, followed by 1000 córdobas in 1953.

A 1000 Córdoba banknote, which was re-printed with a value of 200,000 Córdobas during the inflationary period of the late 1980s.

In 1962, the Central Bank of Nicaragua took over paper money issuance. The 1 córdoba notes were replaced by coins in 1972. After 5 córdobas coins were introduced in 1981, 2 and 5 córdobas notes were withdrawn. In 1987, 5000 córdobas 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 20), 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 20,000 and 50,000 córdobas were introduced, followed the next year by 5 million and 10 million córdobas notes.

Third córdoba (córdoba oro)

In 1991, notes were introduced for 1, 5, 10 and 25 centavos, ½, 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
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
For table standards, see the banknote specification table.

2009 Series

On May 15, 2009, polymer ten and twenty córdoba notes were issued to replace their paper counterparts.^[1] 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.^[2] A commemorative design of the 50 córdobas was introduced on September 15, 2010.^[3]

2009 Series [3]
Image		Value	Dimensions	Main Colour		Description			Date of
Obverse	Reverse					Obverse	Reverse	Watermark	printing	issue
		10 Cordobas1	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 Cordobas2	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		May 15, 2009
		50 Cordobas	141 x 67 mm		Violet	National ceramic of Nicaragua	Canyon of Somoto	National ceramic of Nicaragua, "50" watermark		December 3, 2009
		50 Cordobas	67 x 141 mm		Violet	First building of the Central Bank	Canyon of Somoto	"50" watermark	2010	September 16, 2010
		100 Cordobas	146 × 67 mm		Blue	Monument to Ruben Dario	Cathedral of Leon.	Emblem of the Central Bank of Nicaragua; watermark of a lion.	2009	June 1, 2009
		200 Cordobas	151 × 67 mm		Brown	El Güegüense	Ometepe Island, the national bird, the Momotus momota.	"200", The Guegense with watermark and cape.	2009	June 1, 2009
		500 Cordobas	156 x 67 mm		Red	Residential Museum of Augusto César Sandino	Native statues	"500" watermark, Sandino	2010	January 12, 2010
These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.

Historical exchange rates

• 1 USD =

• • 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 EUR =

• • 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)

Current NIO exchange rates
From Google Finance:	AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD
From OzForex:	AUD CAD CHF EUR GBP HKD JPY USD
From XE.com:	AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com:	AUD CAD CHF EUR GBP HKD JPY USD

See also

• Economy of Nicaragua

References

• Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501. 
• Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9. 

1. ^ http://www.time.com/time/world/article/0,8599,1900518,00.html
2. ^ Banknote news accessed 2010-01-18
3. ^ [1]

External links

• Pictures of Nicaraguan banknotes and coins
• Banco Central de Nicaragua: Billetes y Monedas en Circulación