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| 背面描述 | Brown tones over a multicolor underprint, with a central portrait vignette of Francisco Hernández de Córdoba, the Spanish conquistador after whom the córdoba currency is named. The composition is framed by intricate guilloche patterns typical of De La Rue intaglio printing of the period. |
| 背面铭文 | BANCO CENTRAL DE NICARAGUA VEINTE CORDOBAS THOMAS DE LA RUE & COMPANY LIMITED (Translation: Central Bank of Nicaragua Twenty Cordobas Thomas de La Rue & Company Limited) |
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Nicaragua's Central Bank replaced the Banco Nacional as the sole currency authority in 1961, and the notes issued through the 1960s reflect the institution's effort to project stability during a period of tight Somoza-era monetary control. Thomas De La Rue had printed Nicaraguan currency for decades by this point, and the relationship was well-established — the 1968 series continued that arrangement without interruption.
P#118 is among the less frequently encountered denominations from this issue in higher circulated grades, partly because the 20 Córdoba value sat at a level of active daily use rather than being saved or hoarded the way higher denominations sometimes were.