The decision, in the context of a constant devaluation of the local currency and growing inflation which in 2023 was over 211%, was approved by the Central Bank of Argentina (Bcra). The new banknotes, including the 10,000 peso banknotes, will not be available to the public until next June
The issuance of new banknotes worth 10,000 and 20,000 pesos. This is the decision of the Central Bank of Argentina (BCRA) in the context of a constant devaluation of the local currency, the peso, and growing inflation which in 2023 was over 211%. To date, the highest denomination note is the 2,000 peso ticket which is worth just over 2 euros at the official exchange rate.
The objective, the Argentine Bank underlined, is to simplify transactions that force users to use large quantities of banknotes even for the simplest purchases, as well as making the logistics of the financial system more efficient. Guaranteeing, at the same time, a significant reduction in the costs of transporting banknotes. According to what has emerged, the new banknotes will not be available to the public before June and, considering the current rate of inflation, the new denominations may even be insufficient. Currently, Argentina is the country in the South American region with the highest inflation ever. The price index reached 211.4% on an annual basis in December after recording an increase of 25.5% on a monthly basis.