Nicaragua Hyperinflation Banknotes


5,000,000 Cordobas (1990)

5,000,000 Cordobas (1990) front
5,000,000 Cordobas (1990) back

Enlarge: Front5,000,000 Cordobas (1990) front
 & Back5,000,000 Cordobas (1990) back

Front: Cleto Ordóñez (1778-1839), Commandant of Nicaragua

Back: Church of San Francisco Granada


Church of San Francisco Granada

Church of San Francisco Granada

Enlarge: ChurchChurch of San Francisco Granada


10,000,000 Cordobas (1990)

10,000,000 Cordobas (1990) front
10,000,000 Cordobas (1990) back

Enlarge: Front10,000,000 Cordobas (1990) front
 & Back10,000,000 Cordobas (1990) back

Front: Jose Dolores Estrada (1787-1869), Nicaraguan general

Back: Hacienda San Jacinto in Managua

This hacienda was the site of one of the most important battles of modern history of Nicaragua known as National War of 1854-1856, which highlights the heroism of the army of Nicaragua. During this period was the Battle of San Jacinto on September 14, 1856.


Hacienda San Jacinto

Hacienda San Jacinto

Enlarge: HaciendaHacienda San Jacinto

Back to Hyperinflation Banknotes

Nicaragua went through a period of hyperinflation from 1987 to 1990. Before 1987, the highest denomination was 1,000 Cordobas. By 1987, it was 500,000 Cordobas. In the 1988 currency reform, 1 new Cordoba was exchanged for 1,000 old Cordobas. But by 1990, the highest denomination reached 10,000,000 new Cordobas. In another currency reform (mid-1990), 1 gold Cordoba was exchanged for 5,000,000 new Cordobas. The overall impact of hyperinflation: 1 gold Cordoba = 5,000,000,000 pre 1988 Cordobas.




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