Banxico will launch a new 20-peso coin on October 4

Banxico will launch a new 20-peso coin on October 4

“It is expected that next Tuesday, the Bank of Mexico will put into circulation a new 20-peso coin that would commemorate the bicentennial of the creation of the Secretary of the Navy,” Alejandro Alegre, general director of Issuance and Chief Cashier, said in an interview. of the Bank of Mexico.

The official stressed that the launching ceremony will be carried out by the Navy, which celebrates its 201st anniversary next Tuesday.

The ceremony is planned at the dependency facilities, in the south of the city.

Who decides the designs of the new coins?

Alejandro Alegre said that this year no more commemorative 20-peso coins are expected to be issued. The process of issuing new coins, explained the official, depends on initiatives that are approved by Congress.

“If there is any initiative to commemorate, through metallic coins, any event of national significance, it is the power and attribution of the Congress of the Union to approve or not the characteristics of the coins,” he said.

When the initiatives are approved, they are published in the Official Gazette of the Federation (DOF), Banxico designs the currency and approves it by the Governing Board and sends it to the Casa de Moneda for minting.



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