Nicaragua introduced the Cordoba denominated currency beginning in 1912, the previous Peso denominated currency had lost value and was called in and exchanged for Cordobas that year. Banco Nacional de Nicaragua had a long relationship with American Banknote Company and had many designs printed by them for their currency. This design with a young miss with a ribbon in her hair, and an exposed chest dates from 1932 and was used through the 1938 series. Curiously this note was used concurrently with another design two women seated on a cliff above the sea. Both notes were replaced with more uniform design beginning in 1941, when dictator Anastasio Somoza's daughter appeared on the 1 Cordoba note. This particular note is P-63.