Nicaraguan Córdoba (NIO)

Basic Concepts of the Nicaraguan NICODOBA

The Nicaraguan Nueva Córdoba is the legal tender of the Republic of Nicaragua, with the ISO code NIO and the symbol C$, issued and managed by the Central Bank of Nicaragua, and used primarily for day-to-day domestic transactions and financial activities.

Countries of Use

The Nicaraguan Nueva Córdoba circulates only within Nicaragua and is the country's only official currency. Currency conversions outside of Nicaragua are usually required through banks or exchange agencies.

Units and Denominations

1 NICD is equal to 100 cents, and the current denominations of banknotes include 10, 20, 50, 100, 200, and 500 NICD, and coins are available in denominations of 1, 5, and 10 NICD, as well as in coins of 5, 10, 25, and 50 cents.

Historical Background

The Nueva Córdoba was first issued in 1912 and has gone through a number of currency reforms before replacing the old Córdoba as the current currency in 1991. Its exchange rate is pegged to the U.S. dollar, reflecting the evolution of Nicaragua's economic policies and inflation control.