As anticipated Scope, $2,000 bills will begin to circulate as of today. Last week, the test was already being carried out at ATMs that have the new bills.
Confirmation of 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 this year. Therefore, although it was brought forward a few weeks, it is within the stipulated period.
In early May, the 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.
The $2,000 bills are already distributed to banks and it will be the new bill with the highest value in Argentina, replacing the historic $1,000 bill that has the figure of the baker.
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.
This bill hits the streets in the context of a highly inflationary context, which is why many voices criticize the launch and believe 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%.
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 streets 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.
News in development.-
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