On 24th June, the Central Bank of Nicaragua officially declared that new 500 and 1,000 Cordobas banknotes will start circulating from 8th July. They are produced using a polymer substrate, have advanced security features and are more durable. Officials stated that the notes have been introduced to meet the country’s monetary demands and replace currency notes which are in poor condition. They also believe that the cost of printing will reduce as the new notes are more durable. Apart from that, the new notes are recyclable and are environment-friendly as well.
The designs are similar to the notes which are already circulating. The new notes have a dimension of 156 X 67 millimetres. The new 500 Cordobas note will depict the Cathedral of Leon on one side and the Momotombo volcano on the other. The 1000 Cordobas note will feature the San Juan River and the hacienda San Jacinto house. Nicaragua started issuing polymer notes since 2009, and with this latest release, it has become one of the first few nations to have all its currency notes printed on polymer.
Older versions of 500 and 1000 Cordobas banknotes will continue to be legal tender and will be circulated along with the new ones. However, they will be slowly withdrawn from circulation after they get worn out.
Image Courtesy: The Central Bank of Nicaragua