1/2 Córdoba

Nicaragua's monetary history in the late 1980s and early 1990s was defined by hyperinflation of almost incomprehensible scale — the córdoba lost so much value that the government introduced the gold córdoba (córdoba oro) in 1990 at a conversion rate of one million old córdobas to one new. This note, issued the following year, belongs to that replacement series, which means its entire purpose was to reestablish confidence in a unit that had been rendered worthless within a single decade.

The Canadian Bank Note Company's involvement brought a level of security printing sophistication that Nicaraguan domestic production could not have matched at the time.