100,000-Cordoba Notes Issued
Jan. 26, 1988
MANAGUA, Nicaragua (AP) _ New 100,000 cordoba notes, worth about $5, were in circulation today.
Guillermo Vega, treasurer of the Nicaraguan Central Bank, said the bills were sent Monday to offices of the country's banks.
The government stamped the figure 100,000 on unused 500-cordoba notes, following a practice it used twice last year to issue larger bills.
Because of runaway inflation, even small purchases have required large amounts of bills.
Inflation in 1987 was officially estimated at 1,800 percent. Private sources placed it at about 7,000 percent.
A taxi ride from the airport to downtown Managua costs about 80,000 cordobas. The official exchange rate is 20,000 cordobas to the dollar and the black market rate 46,000 to the dollar.