“This higher denomination bill will improve the operation of ATMs and at the same time optimize the transfer of cash,” said the Central Bank of that country in the statement announcing the measure.
The highest value bill so far was the 1,000 pesos, equivalent to about US$4 at the official exchange rate of the day. The depreciation of the local currency is reflected in the fact that when it was announced in February, the 2,000 pesos represented US$10.
“The 2,000-peso bill helps, but it falls very short. The 5,000-peso bill should arrive soon,” said Isaías Marini, an economist at the consultancy Econviews, quoted by the specialized portal IProfesional.
BCRA
A latte with croissants, a traditional breakfast in bars, costs an average of 1,200 Argentine pesos and a sandwich with a soft drink in a fast food chain is available for 2,000 pesos.
In Argentina, it has become a disorder to move sums that are not so high due to the amount of bills that are needed due to inflation that was 8.4% only in April.
“The way in which people make payments in our country has been undergoing an important change towards a greater use of electronic means,” said the Central Bank.
On the new bill, dark gray and pink, there are images of Cecilia Grierson, the first doctor to graduate in 1889, and Ramón Carrillo, promoter of social medicine since 1946, with a fund from the Malbrán Institute, key in the fight against the coronavirus pandemic.
The Observer and AFP
