córdoba (C$)

Nicaraguan monetary unit from 1912 to 1988. Relatively stable for most of that period, the córdoba’s value plummeted in 1985. By mid-1988 the official rate was US$1 = C$20,000 (US$1 = C$60,000 on the black market), and the córdoba was replaced by the new córdoba (C$n; q.v.) at a rate of 1,000 córdobas to 1 new córdoba.