Currency Rates for Nicaraguan Córdoba
Currency Exchange Rates for Nicaraguan Córdoba. Currency Information on NIO for Nicaragua – C$. The foreign exchange currency code for NIO represents the Nicaraguan Córdoba exchange rate
The córdoba was first introduced in 1912, replacing the peso moneda corriente at a ratio of 1 córdoba: 12 ½ peso moneda corriente.
It was equal to the peso and almost on par with the US dollar. The córdoba was revalued at 1,000:1, introducing the second córdoba, in 1988. The third and current córdoba was introduced in 1991, at 5 million: 1. Currently 1 USD is equal to approximately 25 córdobas.
Send Money Transfer to Nicaragua. Coins are currently available in denominations of 5, 10, 25 and 50 centavos, C$1, C$5 and C$10, whilst banknotes are available in denominations of C$10, C$20, C$50, C$100, C$200 and C$500.
Nicaraguan currency, Cordoba (C$) was named after the man who discovered the country, Francisco Hernández de Córdoba. It was introduced thrice in the country's currency history. First it was introduced in 1912 when the country changed its currency from peso moneda corriente. The second and third reintroduction took place in 1988 and 1991 respectively. The second reintroduction was marked by increase in value and denominations as compared to the previous one. To add on only banknotes were introduced while the coins from the first introduction were retained. However, the value of the third Cordoba re-introduction was slightly lower than the second one.
Currency Coins and Notes
To date, the currency's denominations are C$1, C$5 and C$10, and C$10, C$20, C$50, C$100, C$200 and C$500 for coins and banknotes respectively. Copper, steel and brass are the metals used in differentiating the coins in terms of their value. On the other hand, the bank notes are defined by colour. Both the coins and the bank notes are marked by symbols of figures defining important aspects for instance the legal system is represented on the coins by a court of arms. Bank notes on the other hand have symbols representing key landmarks and people considered important to the nation.
It is interesting to note that the currency has no import or export restrictions. Furthermore, the United States Dollar is used as a substitute currency currently trading at $0.033 to C$ 1. Even though the United States Dollar is accepted, there are various issues that can lead to it being rejected. For instance, if the bank notes are written on, worn out or damaged in any way. To ensure that the currency remains competitive against the United States Dollar, the government of Nicaragua deflates the currency annually at the rate of about 5%. The currency is experiencing a steady decline in value against the
United States Dollar which is a major attraction to investment due to the
minimized foreign exchange risks.
GBP to NIO
Bank Exchange Rates for Nicaraguan Córdoba. The foreign exchange rates for Nicaragua also known as the ISO code NIO. Send money transfer online with us with the cheapest options.