100 Córdobas

Nicaragua's 1990s monetary rehabilitation leaned heavily on De La Rue for successive córdoba oro issues, and P#187 fits squarely in that run — a workhorse denomination from a period when the central bank was still rebuilding credibility after the catastrophic hyperinflation of the late 1980s, when the old córdoba lost virtually all value and was replaced at a rate of 5,000,000 to one in 1990.

The watermark-only security package is notably thin for a 100-unit note by the mid-1990s, when most De La Rue clients were specifying security threads as standard. Whether that reflects a cost-driven procurement decision by the BCN or a holdover specification from an earlier contract generation is not documented in the published record.