Paper Money

Nicaragua releases two new bank notes into circulation

The Central Bank of Nicaragua issued new 500- and 1,000-córdoba bank notes printed on a polymer substrate on July 8.

The issue was approved by the board of directors of the bank in October 2017. The bank says the purpose was to “strengthen the quality and security of the bank notes taking into account the advances in printing technologies, supply public demand for high denomination bank notes and replace those that they are removed from circulation due to their deterioration.”

The central designs are essentially the same as the notes they are replacing. 

The 500-córdoba note is red in color and has on its face the Cathedral of León and on its back the Momotombo Volcano. The 1,000-córdoba note is green in color and has the Hacienda San Jacinto House on the face and the Castle of the Immaculate Conception in Rio San Juan on the back. Both are 156 millimeters long and 67 millimeters high. 

The biggest difference is, instead of cotton paper, polymer is being used, allowing for the use of devices such as ink with dynamic shifting effects on both sides, complex windows with color changes, embossed prints on the face, a shaded image and latent image with the denomination, and a golden vertical band on the back that shows the denomination when tilting the note.

The bank claims other advantages of the new issues are high durability and resultant cost savings, and environmental benefits, because when the notes have to be destroyed, the waste will be recyclable.

With the issue of these two denominations, the Central Bank of Nicaragua is completing the series begun in 2009, which it says makes Nicaragua among the first countries to have all of its denominations printed on polymer substrate. 

The old notes will continue to circulate until they are withdrawn based on wear.

Among the current notes from the bank is a commemorative issue released in 2017. The bank’s commemorative 1,000-córdoba note marked the hundredth anniversary of the death of the nation’s iconic poet Rubén Darío. 

The commemorative note has a portrait of Darío, a large daisy, and a verse from his poem “Pax” (Peace) on the face. The back shows a dove of peace and another extract from “Pax.” The note uses optically variable ink in the form of a feather quill and ink pot within a paper scroll, microprinting, and a watermark. It also has ultra-violet and infrared properties. 

 

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