The Largest Bank Note in Argentina Reflects Accelerating Inflation in the Country

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developed argentina new A bill of 2000 pesos circulates as the country goes on one of the world’s highest Inflation rates decimated value of local currency.

the new banknotes worth double the previous highest invoice in circulation but still worth Only $8.21 in official exchange rate and $4.08 in black-market rates. strict capital controls It means that access to official Currency exchange rate market is the minimum, the peso worth Much less in Parallel markets.

with annual inflation rate of 109% in April, retail companies and banks have complained operating difficulties when highest invoice in trading of Such a small value.

People who pay the bills with fillings of cash A common sight, ATMs regularly run out of moneyespecially on weekends and holidays.

Big sector of Argentina economy So informal cash payments remain common.

said the central bank in a news He released that while the digitization of payments is progressing, the 2,000 pesos bill “will improve performance of ATM and, at the same time, improve transportation of cash. “

the new Bill is a tribute to the country public health system And features the pictures of Doctors Cecilia Grierson, Country first Doctor and Ramon Carrillo first health minister.

distribution of the new Bills are expected to be gradual as banks receive them.

Consumer prices increased by 8.4%. in April compared to the previous month, with Inflation hit 32% in the first four months of the yearby state-run INDEC statistics agency.

Economic advisory forecasts that inflation in May will be neutral higher and estimate inflation rate of 130% at least for the year.

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