The silver Nicaraguan peso was used in the country until 1912, when the cordoba was introduced. Till the year 1934 it had a fixed rate against the US dollar. In the years of the hardest inflation in the 1980ies the cordoba lost all of it's value, large banknotes were printed over the small denomination and valueless notes... In the 1990ies the monetary reform was held, and new cordoba was introduced. 1 cordoba equals 100 centavos.