The peso was the currency of Nicaragua between 1878 and 1912. It was Nicaragua's first national currency, replacing the currency of the Central American Republic and that of neighbouring states. It was subdivided into 100 centavos and was worth 8 reales. After suffering high inflation, the peso was replaced by the córdoba at a rate of 12½ pesos = 1 córdoba. The Republic of Central America (officially the Greater Republic of Central America) was an attempt to unite the Central American countries of Nicaragua, and El Salvador into a single state, lasting from 1896 to 1898. ... The Real was a unit of currency in Spain for several centuries. ... The córdoba (ISO 4217 code: NIO) is the national currency of Nicaragua. ...