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The córdoba (ISO 4217 code: NIO) is the currency of Nicaragua. It is divided into 100 centavos.
The first córdoba was introduced on March 20, 1912. It replaced the peso at a rate of 12½ pesos = 1 córdoba and was initially equal to the US dollar. It was named after the founder of Nicaragua, Francisco Hernández de Córdoba.
On February 15, 1988, the second córdoba was introduced. It was equal to 1000 first córdobas. On April 30, 1991 the third córdoba, also called the córdoba oro, was introduced, worth 5 million second córdobas. As of June 20, 2008 19.25 córdobas oro equals one dollar.
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