Nigerian Naira in Nicaraguan Cordoba

NGN Nigerian Naira

Country of application:
Nigeria

Coin denominations in circulation:
50 kobo, 1, 2.

Denominations of banknotes in circulation:
5, 10, 20, 50, 100, 200, 500, 1000 naira.

History reference:
The Nigerian Naira is the currency of Nigeria, the name of the currency comes from the name of the state and the river. The naira was put into circulation on January 1, 1973 instead of the Nigerian p...ound, 1 pound = 2 naira. Thus, Nigeria became the last African state to abandon the duodecimal monetary system. Rampant inflation has occurred in Nigeria. The Central Bank of Nigeria said they were trying to keep the annual inflation rate below 10%. In 2011, CBN increased its key interest rate 6 times from 6.25% to 12%. On January 31, 2012, CBN decided to keep its key interest rate at 12% to reduce the impact of inflation due to cuts in fuel subsidies. On October 25, 2021, eNaira, an electronic analogue of the national currency, was launched in Nigeria. eNaira is not a cryptocurrency, all transactions are controlled by financial government agencies.

NIO Nicaraguan Cordoba

Country of application:
Nicaragua

Coin denominations in circulation:
5, 10, 25, 50 centavos, 1.5 Canadian dollars.

Denominations of banknotes in circulation:
5, 10, 20, 50, 100, 200, 500, 1000 Canadian dollars.

History reference:
The Nicaraguan Cordoba is the currency of Nicaragua. It was first issued on March 20, 1912 and suffered from chronic and severe inflation. Initially, the Central Bank of the country issued coins in d...enominations of 1/2, 1, 5, 10, 25 centavos and 1 cordoba, as well as paper banknotes in denominations of 1, 2, 5, 10, 20, 50 and 100 cordoba. One cordoba was equal to 100 centavos. Nicaragua is one of the poorest countries in the Western Hemisphere, whose exports largely depend on agriculture and the extraction of raw materials. The author first learned about the distant Latin American country of Nicaragua as a boy in the 1980s. And it was not in geography lessons at school, but from the TV news program "Vremya". The serious announcer often talked about the battles in the Nicaraguan jungle that the Contras fought against the Sandinistas, about the fiery revolutionary Daniel Ortega and the freedom fighter of the Nicaraguan people Augusto Sandino. And then, quite by accident, a small Nicaraguan coin with the image of a large wide-brimmed hat fell into the hands of the author.