The Republic of Nicaragua sits between the Pacific Ocean and the Caribbean Sea. Nicaragua isn’t only known for its surfing but is also for its striking colonial cities, adorable volcanoes, extraordinary wildlife, rain forests, lakes, and highlands. Its capital is Managua but the country’s most popular city, as well as the oldest city in Latin America, is Grenada. The Nicaraguan Cordoba is the country’s official currency.
Introduction of The Cordoba
Introduced in 1912, the Cordoba is named in memory of Francisco Hernandez de Cordoba who was a Spanish conquistador. H established the first permanent settlement at Grenada on Lake Nicaragua. The monetary unit replaced the peso moneda corriente and the peso fuerte. Its first banknotes were in the denominations of 10, 25, and 50 centavos, 1, 2, 5, 10, 20, 50, and 100 cordobas.
Following the establishment of the Banco Central de Nicaragua on September 16, 1960, the 1962 Series A banknotes were issued. From then until 1985, Nicaraguan cordoba banknotes carried series letters. Series A paper bills were all in the same size and were printed by the American Banknote Company. On the reverse of these banknotes is a portrait of Francisco Hernandez de Cordoba.
Evolution of the Currency
The country revalued the currency on February 15, 1988, hence, the second cordoba was introduced. The first issues of the second currency were released in 1988 but were dated 1985. Also the banknotes no longer have series letters. The paper bills were printed by the Staatsdruckerei fur Sicherheitspapiere der Deutschen Demokratischen Republik and feature a prominent personality in the history of Nicaragua.
The third series begins to circulate in 1991. Notes in the denominations of 1, 5, 10, and 25 centavos. In addition ½, 1, 5, 10, 20, 50, and 100 cordobas. Recent banknotes come in vibrant colors and highlight Nicaragua’s national landmarks and identities such as the Puerto Salvador Allende in Managua, La Vaquita dancer, the Artisan Market, Folkloristic ballet, and a lot more. Lower denominations from this family of notes were printed by Oberthur on polymer substrate, while the 500 denomination banknote was printed by De La Rue on cotton paper substrate.