Where can I convert Cordobas to Dollars?

November 21, 2008 10:12 AM

Where in the US can I go to convert Nicaraguan Cordobas to US Dollars, and am I really holding $125,000 worth?

This all seems way too good to be true, so I am approaching it with a lot of skepticism. Of course, I'd love to be proven wrong!

I traveled to Nicaragua in 1991 for two weeks. Last night I was going through some old papers and found some Cordobas I had kept when I returned. I remembered that the Cordoba was on a drastic downward spiral in value in 1991, and I thought it would be interesting to see what the current exchange rate is.

In short, I have two 1,000,000 Cordoba bills and one 500,000 bill, which I probably got for a grand total of $5 back in the day.

The online exchange rates I found indicate that the current rate is $1 to every $19 Cordoba, which means between these three bills I have, I am looking at $125,000 USD. Is that possibly correct?

If that is correct, is there somewhere in the US to convert these to dollars? How does that work?

Skeptically hopeful...

posted by willc to travel & transportation (6 comments total)

In April of 1991, the Cordoba was exchanged for the cordoba ora, at a 5,000,000:1 exchange rate.

You have $9.50 worth of old paper.
posted by toxic at 10:22 AM on November 21, 2008

Probably not:

On February 15, 1988, the second córdoba was introduced. It was equal to 1000 first córdobas. On April 30, 1991 the third córdoba, also called the córdoba oro, was introduced, worth 5 million second córdobas. As of June 20, 2008 19.25 córdobas oro equals one dollar.
posted by chrisalbon at 10:23 AM on November 21, 2008

So unless I have Cordobas Oro, I am looking at about $9.50?
posted by willc at 10:25 AM on November 21, 2008

Correct. And if you have a 1,000,000 Cordoba note... you absolutely have second cordobas, not cordobas oro.
posted by toxic at 10:28 AM on November 21, 2008

Well, I knew it was too good to be true :)

Thanks for the info!
posted by willc at 10:38 AM on November 21, 2008

No idea about the collectibles market... But it *may* be worth something as a collectible... or as a fun souvenir to show your kids / friends' kids.
posted by chrisinseoul at 7:39 AM on November 22, 2008