Central Bank to Introduce New Bill

Blake Schmidt January 18, 2008

Perhaps by the end of this year, it won’t be so impossible to break a 500 córdoba bill, thanks to the Central Bank’s plans to introduce a new 200 córdoba bill ($10.60).

Córdoba notes currently come in denominations of 10, 20, 50, 100 and 500.

“We’ve realized there’s a need for an intermediary denomination,” Central Bank manager José de Jesús Rojas told The Nica Times this week.

Though there’s no date set for the new currency to be circulated, Rojas said the bank is in the early stages of planning the bill’s introduction, which could happen as soon as the end of the year.

The bill’s color and design are yet to be determined.

Rojas said the 200 bill would make ATM withdrawals more efficient, giving consumers a bill larger than 100 but smaller than 500. And it will make for better customer service because it will give clients an option other than spending a 500 bill on small purchases, according to Rojas.

The 500, in effect will “be left for high value transactions,” he said.

The bank is in the process of purchasing 131 million of the bills, which would be introduced over a period of five years. The bank is in the processing of seeking bidders in North America, South America or Europe to print the bills, which will be distinguishable with brail, he said.

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