Nicaragua issues new banknotes in the midst of economic crisis
The Central American country recently issued new 500 and 1,000 córdobas, the national currency, which will begin circulating on July 8 at the national level
Nicaragua recently announced the issuance of new bills that will be incorporated into the national financial system starting next July 8. The Central Bank of Nicaragua (BCN) has just issued 500 and 1,000 córdobas bills – the national currency – in the midst of the socio-political and economic crisis the country is experiencing.
Ovidio Reyes, president of the banking entity, issued the announcement in a press conference, during which he brought details of the new bills. They were printed on polymer substrate that provides greater security and avoids the risk of falsification, following the current technological advances in printing.
The 500 and 1,000 córdobas banknotes were printed on cotton paper substrate. The BCN indicated that the current banknotes will continue in circulation until they are phased out gradually according to their deterioration.
Among the attributes of the new notes Reyes stressed: “high durability, which will imply substantial savings in the issuance of tickets, greater difficulty in falsification, since it incorporates state-of-the-art security measures, and environmental friendliness, due to the fact that once destroyed, the waste material of the tickets will be recyclable“.
The measurements are 156 millimeters long and 67 millimeters high, with colors and designs similar to those of current circulation. But these bills will reach the financial system to meet the demand of the public for high denomination currencies.
M.Pino
Source: El Economista
