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.

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 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.

2009 Series
On 15 May 2009, polymer ten and twenty córdoba notes were issued to replace their paper counterparts. A new polymer two hundred and a hundred córdoba banknote was first issued in June 2009. A new polymer 50 córdoba was issued in December 2009. The new designed paper 500 córdoba banknote was introduced on the 12 January 2010. A commemorative design of the 50 córdobas was introduced on the 16 September 2010.

Historical exchange rates

* 1 USD =

*

o 20.865 (Yahoo) or 20.8623 (XE) or 20.5250 (Oanda) (January 10, 2010)
o 20.425 (Yahoo) or 20.4263 (XE) or 20.222 (Oanda) or 20.4268 (Central Bank of Nicaragua) córdobas (August 4, 2009)
o 18.032 (Yahoo) or 19.874 (XE) or 20.113 (Oanda) córdobas (January 3, 2009)
o 18.032 córdobas (June 19, 2008)
o 18.032 córdobas (April 24, 2007)
o 17.066 córdobas (June 5, 2006)
o 17.1754 córdobas (January 13, 2006)
o 16.300 córdobas (April 2005)
o 15.5515 córdobas (December 2003)

* 1 EUR =

*

o 30.0562 (Yahoo) or 30.0772 (XE) or 29.5661 (Oanda) (January 10, 2010)
o 29.3674 (Yahoo) or 29.3721 (XE) or 28.93586 (Oanda) córdobas (August 4, 2009)
o 25.1033 (Yahoo) or 27.532 (XE) or 28.008 (Oanda) córdobas (January 3, 2009)
o 29.8987 córdobas (June 19, 2008)
o 24.583 córdobas (April 24, 2007)
o 22.1168 córdobas (June 5, 2006)
o 19.910 córdobas (January 2006)
o 21.361 córdobas (April 2005)
o 19.6462 córdobas (December 2003)

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