1036) Nicaragua Currency: Cordobas and Centavos: A detailed study of six Series of Nicaraguan Banknotes tracing the Evolution of Banknotes from Paper to Polymer Banknotes in the latest (Sixth) Series of Banknotes:
The Cordoba is the currency of Nicaragua, subdivided into 100 Centavos. The Cordoba was named after the Spanish Conquistador Francisco Hernandez de Cordoba who was publicly beheaded by his rivals in the Spanish colony of Leon, in a power struggle.
About Nicaragua:
The Republic of Nicaragua ("Republica de Nicaragua" in Spanish) is the largest country in the Central American Isthumus. It borders Honduras to the North and Costa Rica to the south. To its East is the Caribbean Sea and to the west is the Pacific Ocean.
On the Pacific side of Nicaragua are the two largest fresh-water lakes in Central America - Lake Managua and Lake Nicaragua. Surrounding these lakes and extending to the North-west along the rift valley of the Gulf of Fonseca are fertile lowland plains with soil enriched by ash from the nearby volcanoes.
Nicaragua derives its name from "Nicarao", Chief of the most populous indigenous tribe and "agua" (meaning "water").
The capital of Nicaragua is Managua, which is the third largest country in Central America.
The population of Nicaragua is around 6.0 million and it is largely multi-ethnic - with segments comprising indigenous tribes from the Mosquito Coast, Europeans, Africans, Asians and people of Midle-Eastern origin including Buddhism.
Christianity came to Nicaragua in the 16th Century with the Spanish conquest. There are Roman Catholics, Evangelical Protestants and Mormons and other Christian denominations concentrated largely on the Caribbean coast.
Interestingly, the high point of Nicaragua's religious calendar is neither Christmas or Easter but "La Purisima" a week of festivities in early December dedicated to the Immaculate Conception".
There are a plethora of Regional Languages, with the main language being Spanish, others being - Miskito, Sumo, Rama and English Creole et al.
The varied cultural traditions has brought about substantial diversity in art and literature - both proseand poetry. Famous literary contributors include Ruben Dario and Ernesto Cardenal.
A brief history of Nicaragua:
Around 500 BC, in the initial phases, the indigenous people the "Pipil" migrated to the territories of present day Nicaragua from Central Mexico.
By the 15th Century AD, Western Nicaragua was inhabited was inhabited by several indigenous people related by culture to the Mesoamerican civilisations of the Aztec and Maya and by language to the Mesoamerican Linguistic Area. At the same time, the Caribbean coast of Nicaragua was populated by other people/groups speaking the Chibcha language. They had migrated to present day Northern Colombia and nearby areas and lived primarily on hunting and gathering.
In 1502, Christopher Columbus became the first European to sail to Nicaragua.
In 01/1520, Gil Gonzales Davila and his troops, who came in search of gathering gold in the fertile valleys was driven off by the combined armies of Chief Nicarao and Chief Diriangen.
In 1524, the first Spanish settlements were set up. Conquistador Francisco Hernandez de Cordoba established two of Nicaragua's principal towns - Granada on Lake Nicaragua and Leon, West of Lake Managua. A power struggle between Pedro Arias Davila and Cordoba led to Cordoba being publicly beheaded. His tomb was discovered in 2000 AD in the ruins of Leon Viejo (archaeological site).
The Spanish were involved in several battles with the local people aimed at overpowering them and destroying local cultures.
In 1610, the Momotombo volcano erupted, destroying the Spanish capital, which was rebuilt North-west of present day "ruins of Old Leon".
In 09/1821, the Captaincy General of Guatemala was dissolved with the declaration of Independence of the Mexican Empire and Nicaragua became a part of the First Mexican Empire.
Thereafter, with a series of battles with revolutionary forces, the assistance of the USA, several military dictatorships, fighting German forces during World War II , uprisings by the Sandinistas et al, after a turbulent/violent history, the Sandinistas took power in 1979.
In 1984, the Sandinistas won the general elections in Nicaragua and the country has been having popular elections thereafter, with various groups coming to power at different times.
Interestingly, the motto of Nicaragua is - "En Dios Confiamos" (meaning "In God we Trust" - which is similar to one of the mottoes of the USA).
About Nicaragua:
The Republic of Nicaragua ("Republica de Nicaragua" in Spanish) is the largest country in the Central American Isthumus. It borders Honduras to the North and Costa Rica to the south. To its East is the Caribbean Sea and to the west is the Pacific Ocean.
On the Pacific side of Nicaragua are the two largest fresh-water lakes in Central America - Lake Managua and Lake Nicaragua. Surrounding these lakes and extending to the North-west along the rift valley of the Gulf of Fonseca are fertile lowland plains with soil enriched by ash from the nearby volcanoes.
Nicaragua derives its name from "Nicarao", Chief of the most populous indigenous tribe and "agua" (meaning "water").
The capital of Nicaragua is Managua, which is the third largest country in Central America.
The population of Nicaragua is around 6.0 million and it is largely multi-ethnic - with segments comprising indigenous tribes from the Mosquito Coast, Europeans, Africans, Asians and people of Midle-Eastern origin including Buddhism.
Christianity came to Nicaragua in the 16th Century with the Spanish conquest. There are Roman Catholics, Evangelical Protestants and Mormons and other Christian denominations concentrated largely on the Caribbean coast.
Interestingly, the high point of Nicaragua's religious calendar is neither Christmas or Easter but "La Purisima" a week of festivities in early December dedicated to the Immaculate Conception".
There are a plethora of Regional Languages, with the main language being Spanish, others being - Miskito, Sumo, Rama and English Creole et al.
The varied cultural traditions has brought about substantial diversity in art and literature - both proseand poetry. Famous literary contributors include Ruben Dario and Ernesto Cardenal.
A brief history of Nicaragua:
Around 500 BC, in the initial phases, the indigenous people the "Pipil" migrated to the territories of present day Nicaragua from Central Mexico.
By the 15th Century AD, Western Nicaragua was inhabited was inhabited by several indigenous people related by culture to the Mesoamerican civilisations of the Aztec and Maya and by language to the Mesoamerican Linguistic Area. At the same time, the Caribbean coast of Nicaragua was populated by other people/groups speaking the Chibcha language. They had migrated to present day Northern Colombia and nearby areas and lived primarily on hunting and gathering.
In 1502, Christopher Columbus became the first European to sail to Nicaragua.
In 01/1520, Gil Gonzales Davila and his troops, who came in search of gathering gold in the fertile valleys was driven off by the combined armies of Chief Nicarao and Chief Diriangen.
In 1524, the first Spanish settlements were set up. Conquistador Francisco Hernandez de Cordoba established two of Nicaragua's principal towns - Granada on Lake Nicaragua and Leon, West of Lake Managua. A power struggle between Pedro Arias Davila and Cordoba led to Cordoba being publicly beheaded. His tomb was discovered in 2000 AD in the ruins of Leon Viejo (archaeological site).
The Spanish were involved in several battles with the local people aimed at overpowering them and destroying local cultures.
In 1610, the Momotombo volcano erupted, destroying the Spanish capital, which was rebuilt North-west of present day "ruins of Old Leon".
In 09/1821, the Captaincy General of Guatemala was dissolved with the declaration of Independence of the Mexican Empire and Nicaragua became a part of the First Mexican Empire.
Thereafter, with a series of battles with revolutionary forces, the assistance of the USA, several military dictatorships, fighting German forces during World War II , uprisings by the Sandinistas et al, after a turbulent/violent history, the Sandinistas took power in 1979.
In 1984, the Sandinistas won the general elections in Nicaragua and the country has been having popular elections thereafter, with various groups coming to power at different times.
Interestingly, the motto of Nicaragua is - "En Dios Confiamos" (meaning "In God we Trust" - which is similar to one of the mottoes of the USA).
The First Cordoba Banknote Series (20.03.1912 - 1988):
The first Cordoba was introduced on 20.03.1912. It replaced the Peso Moneda Corriento at an exchange rate of 12 1/2 Pesos m/c to 1 Cordoba and the Peso Fuerte at par.
The First Series of Cordoba Banknotes was brought out on 20.03.1912, by the National Bank of Nicaragua and included the denominations of 10, 25 and 50 Centavos and 1, 2, 5, 10, 20, 50 and 100 Cordobas, together with old 1/1 and 1 Peso Moneda Corriente Banknotes overprinted for 4 and 8 Centavos of the new currency.
In 1934, all circulating Banknotes were exchanged for Banknotes which were overprinted "REVALIDO" (meaning "revalidated"). The last Banknotes for less than 1 Cordoba were dated 1938.
In 1945, 500 Cordoba Banknotes were introduced.
In 1953, 1,000 Cordoba Banknotes were circulated.
In 1962, the Central Bank of Nicaragua took over paper money issue through a bank resolution dated 08.02.1962 and executive decree No. 71 of 26.04.1962.
In 1972, 1 Cordoba Banknotes were withdrawn and replaced with coins of the same denomination.
In 1981, 5 Cordoba coins were introduced and 2 and 5 Cordoba Banknotes were withdrawn from circulation.
In 1987, 5,000 Cordoba Banknotes were circulated.
This was followed by overprinted 10,000 Cordoba denomination (on 10 Cordoba Banknotes, 20,000 (on 20 Cordoba Banknotes), 50,000 (on 50 Cordoba Banknotes), 100,000 (on 100 and 500 Cordoba Banknotes), 200,000 (on 1,000 Cordoba Banknotes), 500,000 (on 1,000 Cordoba Banknotes) and 1000,000 (on 1,000 Cordoba Banknotes) as the country was experiencing rampant inflation, which substantially reduced the currency's purchasing power.
The Second Cordoba Banknote Series (1988-1991):
The Second Cordoba Banknote Series/issues were in the form of Banknotes only and no coins were issued with this Series.
Circulated in 1988, these Banknotes contained the date of printing as 1985.
These Banknotes were brought out in the denominations of - 10, 20, 50, 100, 500 and 1,000 Cordobas, along with an undated 5,000 Cordoba issue.
In 1989, Banknotes for 10,000, 20,000, 50,000 and 100,000 Cordobas were circulated owing to hyper-inflation.
In 1990, Banknotes of 200,000, 500,000, 1 million, 5 million and 10 million Cordobas were introduced.
The Third Cordoba Banknote Series (1991-2002):
The Third Cordoba Banknote Series was introduced in 1991, which included Banknotes of 1, 5, 10 and 25 Centavos and 1/2, 1, 5, 10, 20, 50 and 100 Corbobas.
In 1994, the Banknotes below 1 Cordoba were replaced by coins of the same denominations.
In 1997, the Banknote denomination of 5 Cordobas was replaced by a coin of the same denomination.
In 2002, a Banknote denomination of 500 Cordobas was circulated.
The Fourth Series of Cordoba Banknotes (2002-2009):
The Fourth Series of Cordoba Banknotes, included famous personalities from Nicaraguan history on the Front and on the Back depicted well-known landmarks or natural habitats in Nicaragua.
The denominations included in this Banknote series included 10, 20, 50, 100 and 500 Cordobas.
The Fifth Series of Cordoba Banknotes (2009 -2015):
The Fifth Series of Cordoba Banknotes included the denominations of 10, 20, 50, 100, 200 and 500 Cordobas.
On the Front of the 10 Cordobas Banknote is seen the Fortress of the Immaculate Conception in Rio San Juan.
On the Back of the 10 Cordobas Banknotes is seen a Hacienda in San Jacinto.
The colour of this Banknote is predominantly Green and its dimensions are - 131 mm x 67 mm.
This Banknote was first issued on 15.05.2009.
On the Front of the 20 Cordobas Banknote is seen a Hut of local residents on the Eastern Coast of the Caribbean.
On the Back of the 20 Cordobas Banknote is seen an illustration of the Palo de Mayo dance.
The colour of this Banknote is predominantly yellow and its dimensions are 136 mm x 67 mm.
This Banknote was first issued on 15.05.2009.
On the Front of the 50 Cordobas Banknote is seen an image of the National Ceramic of Nicaragua.
On the Back of the 50 Cordobas Banknote is seen the Canyon of Somoto.
The colour of this Banknote is predominantly Violet and its dimensions are 141 mm x 67 mm.
This Banknote was first issued on 03.12.2009.
Another variant of the 50 Cordobas Banknote issued on 16.09.2010, had the First Building of the Central Bank on its Back and was otherwise identical to the above-referred design/specifications.
On the Front of the 100 Cordobas Banknote is seen the Monument to Ruben Dario.
On the Back of the 100 Cordobas Banknote is seen the Leon Cathedral.
The colour of this Banknote in predominantly blue and its dimensions are 146 mm x 67 mm.
This Banknote was first issued on 01.06.2009.
On the Front of the 200 Cordobas Banknote is seen the El Gueguense.
On the Back of the 200 Cordobas Banknote is seen the Ometepe Island, the National Bird - the Momotus momot.
The colour of this Banknote is predominantly Brown and its dimensions are 151 mm x 67 mm.
This Banknote was first issued on 01.06.2009.
On the Front of the 500 Cordobas Banknote is seen the Residential Museum of Augusto Cesar Sandino.
On the Back of the 500 Cordobas Banknote is seen local Nicaraguan statues.
The colour of this Banknote is predominantly red and its dimensions are 156 mm x 67 mm.
This Banknote was first issued on 12.01.2010.
The Sixth Series of Cordoba Banknotes (2015/2017 - Presently Circulating Series):
On 26.10.2015, the Banco Central de Nicaragua circulated a new family of Banknotes in the denominations of 10, 20, 50, 100, 200 and 500 Cordobas.
The five lower denominations were printed in Polymer, while the 500 Cordobas Banknote was printed on cotton paper substrate. This entire Polymer Banknote Series and the paper Banknote was awarded the winner of the Regional Banknote of the Year 2016 by Reconnaissance - the organisers at a special ceremony during the Conference held in Mexico City, held on 21.06.2016.
The five new Polymer Banknotes have greater durability than earlier issues. The Banknotes have been redesigned and upgraded with leading-rdge security features, greater harmony in the designs (which feature architectural images on the Front and cultural traditions on the Back. - each denomination relating to a specific region of the country), more contrasting colours and more use of optical effects.
The Polymer Banknotes (including the 50 and 100 Cordobas) are printed on Innovia's Guardian(R) substrate, while the 200 Cordobas is the first circulating Banknote in Nicaragua to feature Latitude (R) - a substrate-integrated diffractive optically variable device using silver nanoparticles that are not restricted to patch or stripe formats - with the shape of a Guargabarrano (Nicaragua's National Bird).
The 500 Cordobas Banknote , printed on paper is one of the first Banknotes to feature SPARK Live. It also features Oberthur Fiduciare's Dual Track security thread, with the Sacuanjoche (Nicaragua's National Flower) connecting two non-adjacent tracks.
The 2015 Series has improved aesthetics, increased durability, enhanced differentiation and recognition between the Banknotes with a greater resistance to counterfeiting.
On 01.12.2016, a 1,000 Cordobas Paper Substrate Banknote was circulated to ease high value transactions.
On the Front of the 10 Cordobas Polymer Banknote is seen Puerto Salvador Allende, Managua.
On the Back of the 10 Cordobas Polymer Banknote is seen La Vaquita (Patron Saint of festivities of Managua).
The colour of this Polymer Banknote is predominantly green and its dimensions are 131 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 20 Cordobas Polymer Banknote is seen the Moravian Church, Laguna de Perlas.
On the Back of the 20 Cordobas Polymer Banknote is seen the Mayo Ya Festival.
The colour of this Banknote is predominantly orange and its dimensions are 136 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 50 Cordobas Polymer Banknote is seen the Artisan Market, Masaya.
On the Back of the 50 Cordobas Polymer Banknote is seen a Folkloristic ballet.
The colour of this Banknote is predominantly violet and its dimensions are 141 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 100 Cordobas Polymer Banknote is seen the Cathedral of Granada.
On the Back of the 100 Cordobas Polymer Banknote is seen a Horse cart.
The colour of this Banknote is predominantly Blue and its dimensions are 146 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 200 Cordobas Polymer Banknote is seen Ruben Dario National Theatre, Managua.
On the Back of the 200 Cordobas Polymer Banknote is seen El Gueguense Comedy Ballet.
The colour of this Banknote is predominantly brown and its dimensions are 151 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 500 Cordobas Paper Banknote is seen the Cathedral of Leon.
On the Back of the 500 Cordobas Paper Banknote is seen the Momotombo Volcano.
The colour of this Banknote is predominantly red and its dimensions are 156 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 1,000 Cordobas Paper Banknote is seen the Hacienda San Jacinto, Tipitapa.
On the Back of the 1,000 Cordobas Paper Banknote is seen the Castle of the Immaculate Concepcion, Rio San Juan.
The colour of this Banknote id predominantly dark green and its dimensions are 161 mm x 67 mm.
This Banknote was first issued in 01/2017.
500 and 1000 Cordobas Banknote denominations conversion from Paper to Polymer Banknotes:
The Banco Central de Nicaragua has announced on 24.06.2019, that they are shortly introducing new polymer substrate versions of the 500 and 1,000 Cordobas Banknotes in place of the recently circulating paper substrate versions introduced in 2015/2017, as part of a revision and update of security features.
The Directive to print Banknotes on Polymer substrate was originally approved in 2015 for the smaller denominations (10, 20, 50, 100 and 200 Cordobas). Now the higher denominations of 500 and 1,000 Cordobas transition to Polymer has been approved by the Board of Directors of the Banco Central in 10/2017.
The Directive sought to strengthen the quality and security of the higher denomination Banknotes, as well, taking into account the advances in printing technologies, supply public demand for high-denomination Banknotes and to replace the present paper substrate Banknotes from circulation due to their deterioration.
As with the already circulating Polymer Banknote denominations, the new higher denomination Polymer substrate Banknotes will incorporate high durability, which will result in substantial savings by the Banco Central in addition to ensuring greater difficulty in counterfeiting since they integrate State-of-the-Art security measures.
In addition, the Polymer substrate is more eco-friendly and once the Banknote is destroyed, the waste material is easily recyclable.
The dimensions of the 500 and 1,000 Cordoba Banknotes will remain the same with colours and designs identical to the Banknotes of the same denominations presently in circulation.
With the issuance of these two denominations the Banco Central de Nicaragua would be issuing the the entire circulating Banknote denominations in Polymer substrate and be one of the first few countries to have all seven Banknote denominations printed on Polymer substrate.
The Back of the 1,000 Cordobas Banknote is seen against an enlarged image of the Central Design shown on this face
The Front and Back of the 1,000 Polymer Banknote seen placed together side-by-side
On the Front of the 1,000 Cordobas Polymer Banknote is seen an image of the Hacienda San Jacinto,
This is the site where the battle of San Jacinto was fought on 14.09.1856, between a group of 160 Nicaraguan Army soldiers commanded by Colonel Jose Dolores Estrada Vado (1792-1869) against 300 American roughriders of William Walker (1824-1860), one-time founder of the failed Republic of Sonora.
On the Back of the 1,000 Cordobas Polymer Banknote is seen an illustration of the Castle of the Immaculate Conception on the banks of the Rio San Juan.
The castle is a fortification located on the Southern bank of the San Juan River, in the village of El Castillo in Southern Nicaragua.
The fortress is on the list of sites scheduled to achieve World Heritage Site status with UNESCO.
The colour of this Banknote is predominantly green and its dimensions are 161 mm x 67 mm.
The Front and Back of the 500 Cordobas Polymer Banknote seen placed together side-by-side
On the Front of the 500 Cordobas Polymer Banknote is seen the Cathedral of Leon, which is a significantly important and historic landmark in Nicaragua.
The cathedral was awarded the World Heritage Site status with UNESCO and is presently Nicaragua's third cultural landmark.
On the Back of the 500 Cordobas Polymer Banknote is seen an image of Momotombo , a composite volcano in Nicaragua near the city of Leon. It stands on the shores of Lago de Managua. The ruins of the city are preserved at Leon Viejo ("Old Leon").
The colour of this Banknote is predominantly red and its dimensions are 156 mm x 67 mm.
To recap, the security features include:
- An optically variable SPARK element: Seen on the Front is the round shape found located on the upper right, which includes the denominational value of the Banknote as a numeral and changes colour when the Banknote is tilted.
- A "windowed" see-through application: In the design of the flora, as viewed from the front, the tinted shape is located on the lower left side.
- An iridescent printed strip: Shown on the Back, a vertically printed wide strip is visible when the Banknote is tilted under a light source.
- The 1,000 Cordoba Banknote has a watermark: Above the windowed flora design, the appearance of a watermark is in the shape of a treetop is seen.
Both Banknotes are being released into circulation on 08.07.2019. and will circulate with the paper-printed 500 and 1000 Banknotes presently in circulation, till the paper versions are withdrawn gradually, according to their deterioration.
The Second Cordoba Banknote Series (1988-1991):
The Second Cordoba Banknote Series/issues were in the form of Banknotes only and no coins were issued with this Series.
Circulated in 1988, these Banknotes contained the date of printing as 1985.
These Banknotes were brought out in the denominations of - 10, 20, 50, 100, 500 and 1,000 Cordobas, along with an undated 5,000 Cordoba issue.
In 1989, Banknotes for 10,000, 20,000, 50,000 and 100,000 Cordobas were circulated owing to hyper-inflation.
In 1990, Banknotes of 200,000, 500,000, 1 million, 5 million and 10 million Cordobas were introduced.
The Third Cordoba Banknote Series (1991-2002):
The Third Cordoba Banknote Series was introduced in 1991, which included Banknotes of 1, 5, 10 and 25 Centavos and 1/2, 1, 5, 10, 20, 50 and 100 Corbobas.
In 1994, the Banknotes below 1 Cordoba were replaced by coins of the same denominations.
In 1997, the Banknote denomination of 5 Cordobas was replaced by a coin of the same denomination.
In 2002, a Banknote denomination of 500 Cordobas was circulated.
The Fourth Series of Cordoba Banknotes (2002-2009):
The Fourth Series of Cordoba Banknotes, included famous personalities from Nicaraguan history on the Front and on the Back depicted well-known landmarks or natural habitats in Nicaragua.
The denominations included in this Banknote series included 10, 20, 50, 100 and 500 Cordobas.
The Fifth Series of Cordoba Banknotes (2009 -2015):
The Fifth Series of Cordoba Banknotes included the denominations of 10, 20, 50, 100, 200 and 500 Cordobas.
The colour of this Banknote is predominantly Green and its dimensions are - 131 mm x 67 mm.
This Banknote was first issued on 15.05.2009.
On the Front of the 20 Cordobas Banknote is seen a Hut of local residents on the Eastern Coast of the Caribbean.
On the Back of the 20 Cordobas Banknote is seen an illustration of the Palo de Mayo dance.
The colour of this Banknote is predominantly yellow and its dimensions are 136 mm x 67 mm.
This Banknote was first issued on 15.05.2009.
On the Front of the 50 Cordobas Banknote is seen an image of the National Ceramic of Nicaragua.
On the Back of the 50 Cordobas Banknote is seen the Canyon of Somoto.
The colour of this Banknote is predominantly Violet and its dimensions are 141 mm x 67 mm.
This Banknote was first issued on 03.12.2009.
Another variant of the 50 Cordobas Banknote issued on 16.09.2010, had the First Building of the Central Bank on its Back and was otherwise identical to the above-referred design/specifications.
On the Front of the 100 Cordobas Banknote is seen the Monument to Ruben Dario.
On the Back of the 100 Cordobas Banknote is seen the Leon Cathedral.
The colour of this Banknote in predominantly blue and its dimensions are 146 mm x 67 mm.
This Banknote was first issued on 01.06.2009.
On the Front of the 200 Cordobas Banknote is seen the El Gueguense.
On the Back of the 200 Cordobas Banknote is seen the Ometepe Island, the National Bird - the Momotus momot.
The colour of this Banknote is predominantly Brown and its dimensions are 151 mm x 67 mm.
This Banknote was first issued on 01.06.2009.
On the Front of the 500 Cordobas Banknote is seen the Residential Museum of Augusto Cesar Sandino.
On the Back of the 500 Cordobas Banknote is seen local Nicaraguan statues.
The colour of this Banknote is predominantly red and its dimensions are 156 mm x 67 mm.
This Banknote was first issued on 12.01.2010.
The Sixth Series of Cordoba Banknotes (2015/2017 - Presently Circulating Series):
On 26.10.2015, the Banco Central de Nicaragua circulated a new family of Banknotes in the denominations of 10, 20, 50, 100, 200 and 500 Cordobas.
The five lower denominations were printed in Polymer, while the 500 Cordobas Banknote was printed on cotton paper substrate. This entire Polymer Banknote Series and the paper Banknote was awarded the winner of the Regional Banknote of the Year 2016 by Reconnaissance - the organisers at a special ceremony during the Conference held in Mexico City, held on 21.06.2016.
The five new Polymer Banknotes have greater durability than earlier issues. The Banknotes have been redesigned and upgraded with leading-rdge security features, greater harmony in the designs (which feature architectural images on the Front and cultural traditions on the Back. - each denomination relating to a specific region of the country), more contrasting colours and more use of optical effects.
The Polymer Banknotes (including the 50 and 100 Cordobas) are printed on Innovia's Guardian(R) substrate, while the 200 Cordobas is the first circulating Banknote in Nicaragua to feature Latitude (R) - a substrate-integrated diffractive optically variable device using silver nanoparticles that are not restricted to patch or stripe formats - with the shape of a Guargabarrano (Nicaragua's National Bird).
The 500 Cordobas Banknote , printed on paper is one of the first Banknotes to feature SPARK Live. It also features Oberthur Fiduciare's Dual Track security thread, with the Sacuanjoche (Nicaragua's National Flower) connecting two non-adjacent tracks.
The 2015 Series has improved aesthetics, increased durability, enhanced differentiation and recognition between the Banknotes with a greater resistance to counterfeiting.
On 01.12.2016, a 1,000 Cordobas Paper Substrate Banknote was circulated to ease high value transactions.
On the Front of the 10 Cordobas Polymer Banknote is seen Puerto Salvador Allende, Managua.
On the Back of the 10 Cordobas Polymer Banknote is seen La Vaquita (Patron Saint of festivities of Managua).
The colour of this Polymer Banknote is predominantly green and its dimensions are 131 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 20 Cordobas Polymer Banknote is seen the Moravian Church, Laguna de Perlas.
On the Back of the 20 Cordobas Polymer Banknote is seen the Mayo Ya Festival.
The colour of this Banknote is predominantly orange and its dimensions are 136 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 50 Cordobas Polymer Banknote is seen the Artisan Market, Masaya.
On the Back of the 50 Cordobas Polymer Banknote is seen a Folkloristic ballet.
The colour of this Banknote is predominantly violet and its dimensions are 141 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 100 Cordobas Polymer Banknote is seen the Cathedral of Granada.
On the Back of the 100 Cordobas Polymer Banknote is seen a Horse cart.
The colour of this Banknote is predominantly Blue and its dimensions are 146 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 200 Cordobas Polymer Banknote is seen Ruben Dario National Theatre, Managua.
On the Back of the 200 Cordobas Polymer Banknote is seen El Gueguense Comedy Ballet.
The colour of this Banknote is predominantly brown and its dimensions are 151 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 500 Cordobas Paper Banknote is seen the Cathedral of Leon.
On the Back of the 500 Cordobas Paper Banknote is seen the Momotombo Volcano.
The colour of this Banknote is predominantly red and its dimensions are 156 mm x 67 mm.
This Banknote was first issued in 10/2015.
On the Front of the 1,000 Cordobas Paper Banknote is seen the Hacienda San Jacinto, Tipitapa.
On the Back of the 1,000 Cordobas Paper Banknote is seen the Castle of the Immaculate Concepcion, Rio San Juan.
The colour of this Banknote id predominantly dark green and its dimensions are 161 mm x 67 mm.
This Banknote was first issued in 01/2017.
500 and 1000 Cordobas Banknote denominations conversion from Paper to Polymer Banknotes:
The Banco Central de Nicaragua has announced on 24.06.2019, that they are shortly introducing new polymer substrate versions of the 500 and 1,000 Cordobas Banknotes in place of the recently circulating paper substrate versions introduced in 2015/2017, as part of a revision and update of security features.
The Directive to print Banknotes on Polymer substrate was originally approved in 2015 for the smaller denominations (10, 20, 50, 100 and 200 Cordobas). Now the higher denominations of 500 and 1,000 Cordobas transition to Polymer has been approved by the Board of Directors of the Banco Central in 10/2017.
The Directive sought to strengthen the quality and security of the higher denomination Banknotes, as well, taking into account the advances in printing technologies, supply public demand for high-denomination Banknotes and to replace the present paper substrate Banknotes from circulation due to their deterioration.
As with the already circulating Polymer Banknote denominations, the new higher denomination Polymer substrate Banknotes will incorporate high durability, which will result in substantial savings by the Banco Central in addition to ensuring greater difficulty in counterfeiting since they integrate State-of-the-Art security measures.
In addition, the Polymer substrate is more eco-friendly and once the Banknote is destroyed, the waste material is easily recyclable.
The dimensions of the 500 and 1,000 Cordoba Banknotes will remain the same with colours and designs identical to the Banknotes of the same denominations presently in circulation.
With the issuance of these two denominations the Banco Central de Nicaragua would be issuing the the entire circulating Banknote denominations in Polymer substrate and be one of the first few countries to have all seven Banknote denominations printed on Polymer substrate.
This is the site where the battle of San Jacinto was fought on 14.09.1856, between a group of 160 Nicaraguan Army soldiers commanded by Colonel Jose Dolores Estrada Vado (1792-1869) against 300 American roughriders of William Walker (1824-1860), one-time founder of the failed Republic of Sonora.
On the Back of the 1,000 Cordobas Polymer Banknote is seen an illustration of the Castle of the Immaculate Conception on the banks of the Rio San Juan.
The castle is a fortification located on the Southern bank of the San Juan River, in the village of El Castillo in Southern Nicaragua.
The fortress is on the list of sites scheduled to achieve World Heritage Site status with UNESCO.
The colour of this Banknote is predominantly green and its dimensions are 161 mm x 67 mm.
The cathedral was awarded the World Heritage Site status with UNESCO and is presently Nicaragua's third cultural landmark.
On the Back of the 500 Cordobas Polymer Banknote is seen an image of Momotombo , a composite volcano in Nicaragua near the city of Leon. It stands on the shores of Lago de Managua. The ruins of the city are preserved at Leon Viejo ("Old Leon").
The colour of this Banknote is predominantly red and its dimensions are 156 mm x 67 mm.
To recap, the security features include:
- An optically variable SPARK element: Seen on the Front is the round shape found located on the upper right, which includes the denominational value of the Banknote as a numeral and changes colour when the Banknote is tilted.
- A "windowed" see-through application: In the design of the flora, as viewed from the front, the tinted shape is located on the lower left side.
- An iridescent printed strip: Shown on the Back, a vertically printed wide strip is visible when the Banknote is tilted under a light source.
- The 1,000 Cordoba Banknote has a watermark: Above the windowed flora design, the appearance of a watermark is in the shape of a treetop is seen.
Both Banknotes are being released into circulation on 08.07.2019. and will circulate with the paper-printed 500 and 1000 Banknotes presently in circulation, till the paper versions are withdrawn gradually, according to their deterioration.
(The 10 Cordobas Banknote seen in the 5th Series of Cordoba Banknotes is from the collection of Jayant Biswas. The images of the 500 and 1000 Cordobas Polymer Banknotes are from a Press Release issued by the Banco Central de Nicaragua. Post researched and written by Rajeev Prasad)
29) Did You Know Series (44): Decoding the Aztec Calendar Sone (or the Sun Stone of Axyacatl)
30) A New 2019 Fourth Series of Banknotes, Aruba, issued by the Centra Bank of Aruba (Centrale Bank van Aruba) on 04.06.2019 comprising five denominations with the theme of "Endangered Flora and Fauna of Aruba" and historic monuments and landmarks
31) Nicaragua Currency: Cordobas and Centavos: A detailed study of six Seris of Nicaraguan Banknotes tracing the evolution of Banknotes from Paper to Polymer Banknotes in the latest (Sixth) Series of Banknotes
Links to some other interesting posts from South American countries & Mexico:
29) Did You Know Series (44): Decoding the Aztec Calendar Sone (or the Sun Stone of Axyacatl)
30) A New 2019 Fourth Series of Banknotes, Aruba, issued by the Centra Bank of Aruba (Centrale Bank van Aruba) on 04.06.2019 comprising five denominations with the theme of "Endangered Flora and Fauna of Aruba" and historic monuments and landmarks
31) Nicaragua Currency: Cordobas and Centavos: A detailed study of six Seris of Nicaraguan Banknotes tracing the evolution of Banknotes from Paper to Polymer Banknotes in the latest (Sixth) Series of Banknotes
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