10 000 000 Cordobas

Nicaragua's hyperinflation of the late 1980s was among the worst in the Western Hemisphere, driven by Sandinista deficit spending and the economic disruption of the Contra war. By 1990, the córdoba had collapsed so severely that denominations in the tens of millions had become routine for daily transactions. This note was issued just as the Chamorro government inherited the wreckage — within months, a full monetary reform replaced the córdoba with the gold córdoba at a rate of 5,000,000 to one, instantly rendering notes at this level obsolete.

The Canadian Bank Note Company's involvement is notable: a North American printer supplying a government that had been at odds with Washington for nearly a decade.