The currency is Nicaragua. History and appearance of the Cordoba

In the Central American state of Nicaragua, the official monetary unit is the local cordoba, which consists of one hundred centavo. This article will acquaint the reader with the history of this currency, the appearance of banknotes and coins, and their other characteristics.

The appearance of the cordoba

The currency of Nicaragua is Cordoba. It was put into circulation in 1912, replacing the peso, which operated on the territory of the state since 1838. The name of the monetary unit was derived from the name of the province of Cordoba. The new currency of Nicaragua was exchanged for pesos at a ratio of 1 to 5. Such a course was caused by plans, according to which one coin of the corral would have to contain 1.5048 grams of pure gold. While the old peso was made of silver.

This principle of the "gold" standard has not been fully realized, and the golden cordoba has not come into circulation. As an alternative, paper notes began to be used.

Nicaraguan currency

At first, the Central Bank of Nicaragua put into circulation coins worth ½, one, five, ten, twenty-five centavos and one cordoba. Later, a fifty centavo coin appeared. Nicaragua's currency was also denominated in denominations of one, two, five, ten, twenty, fifty and one hundred cordobas. After a while, banknotes of greater dignity appeared in circulation - five hundred and one thousand.

History of a monetary unit

The first monetary reform in Nicaragua was carried out in 1981 after the end of the civil war in the country. Due to these dramatic events in the history of the state, the purchasing power of the local currency has significantly decreased. The emission of new money was accompanied by huge inflation, which led to the need for a permanent denomination. Instead of issuing new types of banknotes, another denomination was printed on old banknotes with the help of black ink.

After several such modifications, the numbers on the banknotes became virtually indistinguishable, which led to the appearance of a large number of false cords. To correct the developed situation it was possible only in 1991 when by the Central bank of the state in circulation the new currency of Nicaragua has been started. This "golden" cordoba also received a different design.

Appearance of coins and banknotes of Nicaraguan currency

What does the currency of Nicaragua look like? The appearance of the front side of all coins is made using a triangular emblem, in which are inscribed five mountain peaks, a rainbow and a Phrygian cap. The triangle symbolizes equality, five volcanoes emphasize the alliance and brotherhood between the five states of Central America, the rainbow symbolizes the world, and the hood is freedom. In addition, the coat of arms of two oceans and inscriptions around the triangle are also on the coat of arms of Nicaragua: on top is REPUBLICA DE NICARAGUA, and below is AMERICA CENTRAL.

The reverse of five, ten, twenty-five centavo coins, as well as one cordoba, contains a denomination in the circle in the center and an inscription just below "CENTAVOS" or "CORDOBAS". Below is the year of the coin issue, and at the very top, at the edge, the phrase EN DIOS CONFIAMOS, which means "We believe in God."

The currency of Nicaragua, denominated fifty centavos, five and ten cordobes, is presented below in the photographs. It should be noted that the figure on the coin of ten denominations belongs to the national hero of Nicaragua, Andres Castro Estrada (Andrés Castro Estrada).

Paper denominations of the Nicaraguan córdoba are printed in different sizes. They also include excellent anti-counterfeiting features. For example, watermarks that correspond to the theme of each note, a protective strip with a miniature text, matching images, relief details. In addition, elements with iridiscent paint are used. In the past few years, banknotes on a polymer basis have appeared in circulation.