It is worth remembering that in the National Senate there is a project to create bills with higher denominations. The person in charge of putting up the idea was Beatriz Ávila, a legislator from Tucuman for Together for Change.
The senator presented a project for the Ministry of Economy to encourage the Central Bank of the Argentine Republic and the Casa de la Moneda, issue bills of 2 thousand, 5 thousand, 10 thousand and 20 thousand pesos.
The rationale offered by Ávila was that in 2022 “the highest inflation in 30 years was registered in the Argentine economy.”
“Request the National Executive Power, through the Ministry of Economy, through the Central Bank of the Argentine Republic and the Casa de la Moneda, to arbitrate the necessary means, and implement the pertinent measures, for the issuance of 2,000 bills, 5,000, 10,000 and 20,000 pesos”, he claimed and added: “Since the pandemic to this part, the need of families and the demand of companies have increased, to have more cash, to satisfy the requirements of daily life, added to the injection of amounts of money to unbanked people who received extraordinary benefits from the State”.
The legislator, among the reasons for her presentation, He remarked that a 100-peso bill in 2019 today is equivalent to a total of 586 pesos “due to the inflationary effect.” He did the same with the baker’s bill: “A $1,000 bill should be a $9,000 bill adjusted for inflation.”
“Today the bill with the highest denomination, the $1,000 (thousand pesos) bill, has only 18% of the purchasing value it had in 2017, when it was put into circulation, at that time, it had a purchasing power five times higher. to the current one”, remarks the opposition senator.
Ávila recalled that in the last 50 years the Argentine currency suffered the removal of 13 zeros and in the event that this exit is chosen, with the elimination of 3 more zeros, each digit removed would mean a “1000% devaluation”.
“This drop in the nominal and real value of the peso is reflected in the fact that the current highest denomination banknote in Argentina is the second among those with the least value, in dollars, in the entire region,” Ávila concluded.
Source: Ambito
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