The new $2,000 bill reached the banks: when will it enter circulation

The new $2,000 bill reached the banks: when will it enter circulation

The release of the $2,000 bill was announced in February of this year by the Central Bank (BCRA) and was scheduled for the second half of the year, but a few weeks ago it was learned that its arrival on the street would be brought forward by the end of May. and as far as he could find out Ambitfrom sources in the sector, this Monday began to reach the banks, which are now beginning the test stage and adaptation of ATMs. Next week it could begin to be in the hands of users.

About ten days ago Argentine Mint (CMA) had reported that “it was able to speed up the production processes and advance delivery times of the contracted products,” as reported at the beginning of this month. And they assured that the Central Bank of the Argentine Republic (BCRA) already had the new bill.

Thus, at that time, the body that issues the national currency put the ball in the court of the monetary regulator by stating that “now it is their times and those of their president, Miguel Pescethose who run to see when the Argentines will see them in the street”.


The BCRA began distributing the banknote

Well, everything indicates that the president of the BCRA took the ball and the game has already begun. distribution process of the new maximum value bill in Argentina, which has already reached the entities and will replace the $1,000 bill, which has held it since 2017. “Now the stage of testing and adaptation of bank ATMs would begins”, indicates a source in the sector.

Some banks have not yet received it and expect it to arrive at the beginning of next month. “They told us that, starting June 1, they will be sending them,” reports a bank source.

However, the official expectation is that it will be in the hands of users next weekthat of May 22, but some sources clarify that, “because it is a short week, due to the holiday of May 25 (which is a long weekend and will cover Thursday and Friday) the departure to the next one could be delayed.”

The new paper was designed in collaboration with Exchange house and commemorates the development of science and medicine in Argentina, which is why its protagonists are National Institute of Microbiology Dr. Carlos Malbránon the back, and to the doctors Cecilia Grierson and Ramon Carrilloprecursors in the development of medicine in our country, on the obverse.

A bill with a lot of controversy

This banknote hits the streets in the context of a highly inflationary context, which is why many voices criticize the launch and think that a higher value should be issued, taking into account that the announcement was made in February, with inflation of 6, 6%, well below the 8.4% registered in April. Thus, they point out that the purchasing power of $2,000 paper is very lowtaking into account the projection of inflation for the whole year, they already reach 140%.

However, Pablo Ferrari, an economist from the University of Avellaneda, believes that “almost the entire population is banked and has electronic means of payment and uses them increasingly,” according to BCRA statistical data.

Thus, he indicates that “this means that they use banknotes and coins in a decreasing way” and, therefore, he considers that, beyond the symbolism that the new banknote contains, I do not believe that it will have a special meaning regarding the economy or the inflationary process current.

Source: Ambito

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