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| Nicaraguan córdoba córdoba nicaragüense (Spanish) |
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| 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, C$10 | ||
| 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 |
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 June 20, 2008 19.25 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 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.
Second córdoba
No coins were issued for this currency.
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,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 | |||||||
| For table standards, see the coin specification table. | |||||||
Remarks
- "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.
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.
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.
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. | |||||
Historical exchange rates
- 1 USD =
- 1 EUR =
| From Yahoo! Finance: | 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
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. ed.). Krause Publications. ISBN 0-87341-207-9.
External links
- Pictures of Nicaraguan banknotes and coins
- Banco Central de Nicaragua: Billetes y Monedas en Circulación
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Wikipedia content modification information:
- This page was last modified on 3 January 2009, at 05:45.
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