These are the new banknotes that will ‘fight’ inflation in Argentina – El Financiero

Argentina puts 10 thousand peso bills into circulation (equivalent to about 10 dollars) which will be distributed progressively starting this Tuesday through the country’s network of bank branches and ATMs, according to a statement from the Central Bank of the Argentine Republic (BCRA).

“This 10 thousand peso bill, as well as the 2 thousand with the image of Juan Bautista Alberdi, which will enter circulation in the last quarter of the year, will facilitate transactions between users, make the logistics of the system more efficient and less expensive. financial and will significantly reduce the costs of acquiring finished tickets“, states the monetary entity.

Argentina suffers from high inflation of 276 percent annually last March, which requires the use of higher denomination bills to reduce logistics costs and facilitate transactions.

Until now, the highest value bills in Argentina were those of one thousand and two thousand pesos.

What is the new 10 thousand peso bill that Argentina puts into circulation like?

The 10 thousand peso bill has images of the hero creator of the Argentine flag, Manuel Belgrano, and of a heroine of the war of independence, María Remedios del Valle, on the obverse; and the artistic recreation of the scene of the Pledge of Allegiance held on February 27, 1812, on the reverse.

The image of Belgrano is from a portrait attributed to the French artist François Casimir Carbonnier, while the representation of the heroine belongs to the work La Capitana, made by the Argentine artist Gisela Banzer.

Security measures The 10 thousand peso bill has a watermark, windowed security thread, optical variability ink, among others. They were incorporated using special printing systems.

It also has identification for people with blindness. The 10 thousand and 20 thousand peso bills They belong to the “Heroines and Heroes of the Homeland” family announced in May 2022.

Regarding measures to control inflation, the Organization for Economic Cooperation and Development (OECD) considers that the Government of President Javier Milei is making the tax decisions and adequate monetary measures to be able to control hyperinflation in Argentina, which has to be “the priority to help people,” although the effect at first will be “painful.”