Tickets $10,000 could hit the field sooner than expected. This Thursday two Central Bank directors confirmed that the new higher denomination banknote will begin circulating next month and that the new $20,000 bills will be seen on the streets at the end of the year.
One of the first things that Santiago Bausili had to face when he arrived at the Central last December was the announcement of two new banknotes of higher denomination, in a context of inflationary escalation. In January, the organization’s Board of Directors approved the creation of two bills of $10,000 and $20,000. Although they were expected to begin circulating in June, this Wednesday two BCRA directors anticipated that they will begin to come into force next month.
Pedro Inchauspe and Agustín Pesce, guests of the Payments Day event, organized by Roadshow magazine, declared that in May the first 10,000 dollar banknotes will be seen on the streets and that their entry into circulation will be completed in the months of June and July. “We are looking for anticipate the moments of greatest demand for money what are the winter holidays and those in December. July, with bonus payments and holidays, is the time when cash is used the most and we wanted these invoices to be available now,” they explained.
Likewise, the ticket $20,000 will start rolling in October, in order to be fully valid by the end of the year. The administrators reminded that the new batch of banknotes will be imported from abroad. “We did not arrive in time to entrust this work to the Mint, so we decided to send them to print outside,” they said, underlining that the Central’s commitment is to circulate the new cards as soon as possible.
They also recognized that there were calls in the financial system for the creation of dollar banknotes50,000 and up to $100,000. “There is a logic behind this and that is that they are the same notes that the dollar has. But for now, we believe that with 10,000 and 20,000 dollar notes we are fine,” Pedro Inchauspe said.
This new family of banknotes will have the faces of the “Heroes and Heroines” from the country. The 10,000 dollar bill will have on the obverse the images of Manuel Belgrano and María Remedios del Valle, heroine of the War of Independence.
Meanwhile, the $20,000 bill will have liberal airs. It will carry Juan Bautista Alberdi, inspirer of the National Constitution of 1853 and one of Javier Milei’s favorite heroes. Although some sketches have been circulating, the Central Bank has stated that for security reasons, official images of the banknote will not be released before it enters circulation.
Source: Clarin
