20 Cordobas

Nicaragua's mid-1990s notes were issued under hard-won monetary stability — the córdoba oro had replaced the catastrophically inflated old córdoba in 1991 at a rate of 5,000,000 to 1, and by 1997 the Banco Central was in a position to issue well-produced, conventionally designed circulating notes through De La Rue rather than emergency or transitional issues. This 20 córdoba denomination sits in a series that never saw major revision before polymer substrates began entering the Nicaraguan system in the following decade.