5 000 000 Cordobas

Nicaragua's hyperinflation in the late 1980s was severe enough that denominations climbed into the millions within a single series. This note was issued under the Sandinista government's monetary regime, which had seen the córdoba lose catastrophic value against the dollar — by 1990, the official exchange rate had collapsed entirely, and notes of this size were routine tender for basic transactions.

The Canadian Bank Note Company contract is notable given the political friction between Nicaragua and Western governments during this period. CBNC printed several high-denomination notes for the series as the denominations escalated.

A new córdoba was introduced in April 1990 at 1,000,000 to 1.