Now yes, the Government will be able to start printing it and order its import, if necessary, from its foreign suppliers because the BCRA approval is already in place, an essential requirement for this to be possible. The chosen design is as follows:
It is a design very similar to that of the counterfeit $5,000 bill that was circling the networks in 2020, another moment in which the bank pressure and other economic sectors so that higher-denomination papers were released on the streets. “This corroborates that the Government has been working on this ticket model for a long time or, at least, it has been years since it had defined who its protagonists would be,” says a market source. However, that rumor had never come true until now.
Undoubtedly, the figure of the current Minister of Economy, Sergio Massa, was key to making progress in this regard due to its constant dialogue with the financial entities and other economic actors. In fact, his deputy minister, gabriel rubinsteinhad been insisting for some time, even before taking office, on the need to solve the problem for banks of the low nominal value of the largest banknote in Argentina.
How many banknotes are there and how many could be issued?
It should be remembered that, up to now, the paper with the highest denomination is that of $1,000, which, due to the evolution of inflation, has lost a lot of purchasing power and that brings complications to the bankswho complain about logistics costs, teller burnout problems, and customer complaints.
Still not known how many $2,000 bills will come out to the street in the first “run”, but, for the moment, according to BCRA data as of February 2 of this year, there are 489.2 million $10 papers in circulation; 407.3 of $20; those of $50 are 191.4 million, those of $100 add up to 2,055.8 million in total, those of $500 are 487.7 million and those of $1,000, 1,346.7 million. In total, there are 7,993 million tickets on the street.
Although the official data is bank secret for the moment, so it is not possible to know exactly how many will be on the street this year, the expectation in the market is “that by July there should be between 200 million and 300 million papers of $2,000 in a first stage and that, towards the end of the year, that number increases”, according to a source. This, taking into account that something like 200 million high-denomination bills are issued per month
Source: Ambito
