.Nicaragua - 5 Cordobas Polymer 60th Anniversary of Banco Central De Nicaragua 1960-2020

Republica de Nicaragua

(Republic of Nicaragua)

Banco Central de Nicaragua

(Central Bank of Nicaragua)

Currency - Cordoba (NIO)

This is a five Cordobas commemorative polymer note issued on 01.10.2020. This note was issued for the celebration of the 60th Anniversary of the Central Bank of Nicaragua and the note is printed on polymer substrate. 

The Central Bank of Nicaragua was established in 1960 and commenced operations on 01.01.1961. The bank is 100% owned by the Nicaraguan government. The current President of the bank is Leonardo Ovidio Reyes Ramirez. He was appointed in January 2014. The bank's head office is located in the capital city of Managua.

 

The currency of cordoba was first introduced on 20.03.1912. Before then, the currency of Nicaragua was called peso moneda corriente (PMC). The exchange rate from the old to the new currency was 12.5 PMC for one new cordoba. The cordola currency was named after the Conquistador Francisco Hernandez de Cordoba who was the founder of Nicaragua. Since the introduction of the cordoba currency, the central bank had since revalued its currency twice. The first time was on 15.02.1988, when the new cordoba equaled to 1000 old cordobas. On 30.04.1991, a new cordoba was again introduced and this time the exchange rate was 5 million old cordobas equal to one new cordoba.

Design 

Front - the central bank building printed in Spanish - Edificio Del BCN (BCN Building). Also on the print it also printed with the test of "Sesenta Aniversario Del BCN" and "Emitiento Confianza Y Estabilidad". Its literary means - Sixty Anniversary of BCN and Issuing Confidence and Stability.

Back - On the back, it depicts the highway overpass of Paso A Desnivel Las Piedrecitas (overpass Las Piedrecitas). This overpass was built in 2016 by a Mexican construction firm called Facosa. The project was completed well ahead of schedule due date (May 2017). The purpose of this overpass was to ease daily commuters through Managua's western access by reducing traveling time from 45 minutes to less than 10 minutes. The project cost the government US$16.5m. The overpass is made up of two ramps, with one measuring 650m long and 15m high and the other one 475m long and 9m high.

 

It appears that Nicaragua has now switched all it's cotton based banknotes to polymer substrate. 

Dimensions - 126mm x 67mm

 

Five Cordobas

Dated 2019, Central Bank of Nicaragua building

Reverse - highway overpass of Paso A Desnivel Las Piedrecitas