Waiting for the new $20,000 bills, the Central Bank opened a tender for 540 million bills of $10,000 and $20,000 that will arrive next year. This was confirmed by official sources to Scope.
This is the second tender carried out by the monetary authority: The first one was made for 230 million $20,000 bills which will begin to arrive in October/November. The aim is to be able to supply the needs of the market, given the increased demand for higher denomination banknotes.
The monetary authority confirmed that the opening of bids will take place next Tuesday, September 3. Interested parties must submit their bids to the Contracting Department in sealed, stamped and signed envelopes, and along with their bid, they must list a list of Central Banks and/or Printing Entities of which they have been suppliers, providers of services and works similar to those requested in the tender document.
When does the $20,000 bill arrive?
The Central Bank confirmed the launch date of the new $20,000 bill, which will begin to circulate at the end of October in Argentina. This introduction will mean a significant challenge for both banks as for many of its regular customers, according to the entity.
The obverse of the banknote will show Juan Bautista Alberdi, the Argentine hero who devised the fundamental bases for the drafting of the National Constitution of 1853.
“He The protagonist of the $20,000 bill will be Juan Bautista Alberdithe inspiration behind the National Constitution of 1853, whose portrait will be on the obverse. The central illustration on the reverse will be a recreation of the birthplace of the lawyer, diplomat, economist, writer, philosopher, journalist and politician,” the Argentine banking institution reported.
New problem for banks
With the introduction of the new $20,000 bill, a recurring problem will arise again every time the Central Bank launches a new bill, related to the adaptation of ATMs. When a new banknote enters circulation, ATMs must be set up to receive it when customers want to deposit it, a process that can take up to three months.
This situation has already occurred with Previous bills such as the $1,000, $2,000 and $10,000, and will be repeated with the new $20,000 bill. The Central Bank expects that by January all banks will have adapted their ATMs.
However, during this period, the ATMs may not accept deposits of the new $20,000 bill, although they may normally dispense with it.
Source: Ambito
