How many copies will the BCRA put into circulation?

How many copies will the BCRA put into circulation?

This Monday, finally, the 2,000-peso bill begins to see the light. Little by little, after having carried out the necessary tests in ATMs and ticket-counting machines, this paper will begin to be available to users, commemorating the development of science and medicine in the country. The exit will be gradual, so it will gradually reach all the banks.

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 brought complications to the bankswho complained about logistics costs, ATM burnout problems, and customer complaints.

Thus, the arrival of this new banknote was not easy. It took a long time of internal debate in the Government, since many voices saw its issuance as an element that encouraged inflationary expectations, and there was a lot of pressure from different sectors, especially banks. And it is that the management of a new ticket has a whole political background. It is a decision made by the Executive Power, but regulated and defined by the Central Bank (BCRA), but executed by Casa de la Moneda.

In fact, in this government there was a lot of gender politics behind the new banknotes that come to light from this Monday, while, on the previous one, the heroes were eliminated and native animals were put in, according to what they said at the time, in search of closing the political rift.

The issuance of the new banknote, a gradual process

Finally, this Monday, the 2,000 bill begins to see the light, but it will not be available at the same time in all bank ATMs. In fact, a bank informed Ambit that “we will only have it from the first day of next month.”

This responds to logistical issues and the printing capacity of Casa de la Moneda. In fact, production contracts are divided into two parts:

  • $2,000- Memorial Public Health- June/August (which was brought forward)
  • $2,000- Carrillo-Grierson- September 2023/ April 2024

This distinction between two stages of printing and production It is anticipated that the first will be carried out entirely at the Casa de la Moneda, while for the production of the $2,000-Carrillo-Grierson denomination, manufacturing processes were partially subcontracted abroad to the Brazilian Mint, to the Fábrica Nacional de Moneda and Timbre de España and the China Banknote Printing And Minting Corporation.

How many 2,000 bills will there be on the street?

On the other hand, it is not yet known how many $2,000 bills will be available in the first “run”, since the official data is bank secret and it is a monetary policy decision.

But the expectation in the market is “that there should be between 200 million and 300 million papers of $2,000 by July in a first stage and that, towards the end of the year, that figure will increase”, according to a source. This, taking into account that something like 200 million high-denomination bills are currently issued per month.

At the moment, according to BCRA data as of May 16 of this year, there are 486 million $10 bills in circulation; 406 million papers of $20; 218 million of $50; those of $100 are 1,789 million, those of $200 add up to 461.4 million in total, those of $500 are 1,318.0 million and those of $1,000, 3,330 million. In total, there are 8,000 million banknotes on the street.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts