The leader of the Argentines thinks in dollars. The economy has always been dollarized, but the current crisis – driven by inflation – is further encouraging local savers to buy US banknotes. The fear of devaluation of holdings also causes desire of you have the latest US currency issues, and that opens the door for a while price discrimination even between a banknote of the same denomination: “girl face” against “big face”.
In Argentina the “cara chica” banknotes are paid at a lower value than the “cara grande”. The difference between one and the other is their date of issueWhile the former were launched in 1914, the latter are more modern, dated 2013.
These are $100 bills with Benjamin Franklin’s face on them, and the “small face” denomination is due to the fact that in the older banknotes that image is smaller than in the more current editions.
In the last few hours (even if it’s not the first time), the United States Federal Reserve (FED, with its name in English) published a clarification.
“No need to change the old design #UScurrency for the latest designs. All #US currency retains its face value, regardless of when it was issued“, warns the official account on the US currency.
In another post they were even more direct: “It is not necessary to trade in old-design banknotes. All #US currency remains legal tender regardless of when it was issued.”
@uscurrency is the Twitter feed for US Currency, an official US government account that “used to inform the public about US currency”.
But beyond the clarification, sources consulted by Clarín warn that the “caves”, the “small face” are worth 2% less (in the case of large displacements), while the public is paid up to 4% less .
A few days earlier, on May 15, from the same report, the Government clarified: “Did you know that a $20 bill issued in 1914 can still be used for payments?”
In the case of the 100 dollar bills, the first ones were launched on the market in 1914, and are still valid today, they were renewed in 1996 (keeping the same appearance but changing size and with greater security measures), and the most recent ones were started to be printed in 2013.
This is an issue that isn’t just of local concern, but is also a world-spanning debate, which is why clarifications abound from the Federal Reserve itself (as well). “It is US government policy that all #UScurrency models remain legal tender regardless of when they are issued,” detail.
NS
Source: Clarin
