20 Cordobas

Nicaragua's 1999 córdoba series was issued during a period of hard-won monetary stability following the hyperinflationary collapse of the late 1980s, when the córdoba oro replaced the old currency at a rate of five million to one. The 20-córdoba denomination sits at the practical center of that rebuilt system — common enough in daily commerce to accumulate genuine wear, which makes clean examples less obvious than the issue date might suggest.

Oberthur's Chantepie facility handled production. The security package — thread and watermark — reflects the modest specification typical of Nicaraguan notes of this generation, adequate for domestic circulation but not the more sophisticated multi-feature suites Oberthur was producing for other clients at the same time.