The Central Bank of Argentina announced the incorporation of a new banknote that will become the highest denomination issued.
This is the 2,000-peso bill, which doubles the one with the highest denomination, and is issued due to the inflation faced by the South American country.
The entity justified the issuance of the new banknote as a commemoration of the development of science and medicine in that country.
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“While the payment digitization process progresses, this higher denomination bill will improve the operation of ATMs and at the same time optimize the transfer of cash,” he said.
According to the official exchange, this ticket has a value of 10.25 dollars, however, in the illegal market it only reaches 5.3 dollars. It is expected to be in circulation for the second half of the year.
In December 2017, a bill had been issued with the highest denomination, which was 1,000 pesos.
According to a report by the Argentine newspaper La Nación, the board of directors of the issuing bank, which estimates that the 2,000-peso bill will be in circulation between June and July; at the same time, he begins to analyze the possibility of throwing another one for $5,000.
As reported by the central bank on January 3, 8,070 million banknotes circulate in Argentina. Of that figure, 3,107 million, that is, 38%, correspond to $1,000 bills, and 1,344 million (16%), to $500 bills, according to La Nación.
In recent years, the Argentine peso has been devalued, which has led the Government to issue different exchange rates according to economic activities. (YO)
Source: Eluniverso
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