Nicaraguan córdoba

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Nicaraguan córdoba
córdoba nicaragüense (Spanish)
ISO 4217 Code NIO
User(s) Nicaragua
Inflation 9.1%
Source The World Factbook, 2006 est.
Subunit
1/100 centavo
Symbol C$
Coins 5, 10, 25, 50 centavos, C$1, C$5
Banknotes C$10, C$20, C$50, C$100, C$500
Central bank Banco Central de Nicaragua
Website www.bcn.gob.ni

The córdoba (ISO 4217 code: NIO) is the currency of Nicaragua. It is divided into 100 centavos.

Contents

[edit] History

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

On February 15, 1988, the second córdoba was introduced. It was equal to 1000 first córdobas. On April 30, 1991 the third córdoba, also called the córdoba oro, was introduced, worth 5 million second córdobas. As of March 1, 2006 17 córdobas oros equals one dollar.

[edit] Coins

[edit] First córdoba

In 1912, coins were introduced in denominations of ½, 1, 5, 10, 25 and 50 centavos and 1 córdoba. The ½ 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 ½ 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 aluminium 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 first córdoba were issued, featuring Sandino's characteristic hat. Aluminium 5, 10 and 25 centavos and aluminium-bronze 50 centavos, 1 and 5 córdobas were issued, together with aluminium 500 córdobas.

[edit] Second córdoba

No coins were issued for this currency.

[edit] Third córdoba (córdoba oro)

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.

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
For table standards, see the coin specification table.

[edit] Remarks

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

[edit] Banknotes

[edit] 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.

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 20,000, 50,000, 100,000 and 500,000 córdobas notes as inflation drastically reduced the córdoba's value.

[edit] 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.

[edit] 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 Colour 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
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.

[edit] Historical exchange rates

  • 1 EUR =
    • 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
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[edit] See also

[edit] References

[edit] External links

v • d • e
Nicaraguan currency and coinage
Topics
Coinage
5¢ · 10¢ · 25¢ · 50¢ · C$1 · C$5
Paper money
C$10 · C$20 · C$50 · C$100 · C$500
See also
v • d • e
Currencies of the Americas
North America
Central America
Caribbean
South America