Nicaraguan córdoba

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Nicaraguan córdoba córdoba nicaragüense (Spanish)
C$500 C$100
ISO 4217 Code	NIO
User(s)	Nicaragua
Inflation	9.4%
Source	The World Factbook, 2006 est.
Subunit
1/100	centavo
Symbol	C$
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 1 History 2 Coins 2.1 First córdoba 2.2 Second córdoba 2.3 Third córdoba (córdoba oro) 3 Banknotes 3.1 First córdoba 3.2 Second córdoba 3.3 Third córdoba (córdoba oro) 4 Historical exchange rates 5 References 6 External links

[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 cordobas 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] 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 reduced the córdobas value drastically.

[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 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
	C$100	Blue	Rubén Darío	Rubén Darío Theatre
	C$500	Red	José Dolores Estrada	Hacienda San Jacinto
For table standards, see the banknote specification table.

[edit] Historical exchange rates

• 1 USD =
  • 17.066 córdobas (June 5, 2006)
  • 17.1754 córdobas (January 13, 2006)
  • 16.300 córdobas (April 2005)
  • 15.5515 córdobas (December 2003)

• 1 EUR =
  • 22.1168 córdobas (June 5, 2006)
  • 19.910 córdobas (January 2006)
  • 21.361 córdobas (April 2005)
  • 19.6462 córdobas (December 2003)

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[edit] References

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

• Banco Central de Nicaragua: Billetes y Monedas en Circulación
• Historical summary from Global Financial Data

[edit] External links

• Pictures of Nicaraguan banknotes and coins

v • d • e Nicaraguan currency and coinage
Topics	Banco Central de Nicaragua · Nicaraguan córdoba · Economy of Nicaragua
Coinage	5¢ · 10¢ · 25¢ · 50¢ · C$1 · C$5
Paper money	C$10 · C$20 · C$50 · C$100 · C$500
See also	Nicaraguan peso · Central American Republic real · Centavo

v • d • e Currencies of the Americas
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