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20 Cordobas
| Issuer | Banco Central de Nicaragua |
|---|---|
| Year | 2002 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Third Córdoba `Oro` (1991-date) |
| Composition | Log in to see details |
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| Obverse description | An intaglio portrait of former Nicaraguan President José Santos Zelaya López is positioned at right, set against a pale green and gold guilloche underprint. The large numeral '20' occupies the central field, with 'BANCO CENTRAL DE NICARAGUA' across the top and 'VEINTE CORDOBAS' below; the Nicaraguan national coat of arms appears as a small vignette to the left of the portrait. Two facsimile signatures with their respective titles are printed in the lower centre, above the resolution text and serial number. |
|---|---|
| Obverse lettering | Log in to see details |
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| Protection type | Log in to see details |
| Protection description | Portrait watermark of José Santos Zelaya, visible when held to light |
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| Comments |
Nicaragua's córdoba had already been redenominated twice by the early 1990s — the 1988 currency reform introduced the new córdoba at a rate of 1,000 to 1, itself replaced within two years by the córdoba oro. By 2002 the system had stabilized, and this note entered circulation under relatively calm monetary conditions, a marked contrast to the hyperinflationary spiral that had consumed the 1980s Sandinista-era issues.
The Canadian Bank Note Company contract for Nicaraguan paper currency ran through several denominations in this period. Watermark-only security was modest even by early-2000s standards — later issues in the series added security threads and color-shifting ink.