Why stop with a 5 peso coin?

Rice · Jul 30th 2019

With the peso hovering just a tick below 44 per USD today, I’m considering the government’s decision to finally mint a 5 peso coin to replace the battered, worn out 5 peso notes in circulation. My question is this: why only the 5 peso note, and not also the 10 and 20?

Not to mention what inflation will mean to the value of the peso in 6 months, a year, two years?

Is there some wisdom in continuing to wear out notes that were intended to represent the equivalent of USD $10 and $20, instead of taking the steps to introduce high denomination notes and replace these small ones with coins?

Semigoodlooking · Jul 30th 2019

They also need to get more 1,000 and 500 bills in circulation. The 100 peso note is just not worth anything.

The 10 pesos notes and 20 need to be coined. I am sure it will happen eventually.

serafina · Jul 30th 2019

I remember when people were suspicious of the Evita 100 pesos bills. Now they are everywhere.

Or when a few years later, the 500 pesos bill seemed to be used only by thieves or for money laundering, and was often accepted based on the look of the spender, whereas now it is very common!

I have to add that the new bills with animals and the new coins with plants are very good looking! The 'new' $500 bill was a finalist among 11 for a best design award a couple of years ago: https://tn.com.ar/sociedad/el-…-billete-del-mundo_759283

Splinter · Jul 30th 2019

Yes, we need more 1000 and 500 bills. People still pay me with wads of 100s and they still look at you oddly when you present a 100 as if it's a lot of dosh.

Still, at least they're politicising the money any more.

Btw, Adri thinks the dollar should be at 50.

serafina · Jul 30th 2019

Quote from Splinter

Btw, Adri thinks the dollar should be at 50.

Wait for the PASO. I think it will bump upward considerably, unless Macri gets above 55%.

JAN · Jul 30th 2019

If u ask me, been in banking a few years.....the peso price, nobody have a clue!!!!!

Ask yourself this: you think Warren Buffet or George Soros or Deutsche Bank or or or, see a buying opportunity by 45 or 50????

Nobody with two braincells would buy the peso.....

So, that tells how much the peso is worth.....

It's used here, and for us too, for day to day stuff.....but seriously, nobody consider it as really something to keep in the pocket!

The peso is still artificial high.......just look at the huge amounts of USD that are used to keep it steady!!!!

This is the the one thing is dislike the most about last four years......the waste of central bank money to satisfied the believe in something very wrong!

The dollar should have been FLOATED, directly after the elections.....real floated, offer/demand controlled!!!!

It's not close to being floated.......that's when foreign investors see a buying opportunity......and it starts to FLOAT! It's maybe floating now, but inside small pond.....it's not real floating.

Splinter · Sep 24th 2019

Found a ten peso coin in my pocket. I'm rich!

serafina · Sep 24th 2019

I have never seen a 10 pesos coin. I find it a little hard to keep track of the new coins and banknotes released every year. In Europe this happens once in a decade.

Splinter · Sep 24th 2019

I suppose most European countries don't suffer 70% devaluation in an 18 month period. I mean, the peso is practically worthless and you can't even change them abroad.

JAN · Sep 24th 2019

.....could that be a new populism measurement as soon ff take over....:

"Let's stop the powerty, let's stop the insane inflation, let's give the people back what they deserve: a currency with a real value! "

A new currency!!!!

The bobos would buy it ....

Splinter · Sep 24th 2019

Bring back the Austral!

JAN · Sep 24th 2019

A friend if mine told me the mess about not only the Argentinian official currency but also at a certain point each province was issuing their own ones.......think it was by the last crisis in 2001/2. Carlos could you maybe elaborate on this????

Why not just have, say, 5 currencies in the central bank, physically, and then just swift around each time shtf.......no need for inventing and printing new ones all the time or? Hahahaha

Rice · Sep 24th 2019

We came about the time Splinter did, in 2005, so we're in the dark about a time when each province issued its own currency. Sounds like a really confusing mess. I hope Carlos does take us on a trip back to the end of the 20th century, with a history and currency lesson.

Splinter · Sep 24th 2019

Or why not just use the dollar and be done with it.

Rice · Sep 24th 2019

Added benefit: while the dollar occasionally updates (e.g., magnetic strips), there's rarely a major change. And old dollars are just as usable as new ones, so if you run across one from 1950, it's not like running across an Austral, usable only for lighting the parrilla.

Rice · Sep 24th 2019

Ahhh! Bianca Fernet has resurfaced on the subject of dollarization.

https://www.thebubble.com/argentina-will-never-dollarize

Splinter · Sep 24th 2019

Brilliant article and beautifully written.

But I still think they should and they know they should, but as Bianca says, they don't have the balls.

JAN · Sep 25th 2019

Its so spot on!!!!

Anyway, I wouldn't totally exclude that Argentina could one day dollarize.

But again, then u can't fool around anymore or cheat that easily.

I sometimes meet some young scandi girls together with those men she talk about....always wonder, like she say, I would bet to 99% doesn't end up in marriage or a serious relationship.

And, I have never meet an Argentinian in Denmark, though I know they exist......but doubt strong any Argentinian would easily adapt, (weather, culture, boredom etc)

serafina · Sep 25th 2019

Quote from JAN

Its so spot on!!!!
Anyway, I wouldn't totally exclude that Argentina could one day dollarize.
But again, then u can't fool around anymore or cheat that easily.
I sometimes meet some young scandi girls together with those men she talk about....always wonder, like she say, I would bet to 99% doesn't end up in marriage or a serious relationship.
And, I have never meet an Argentinian in Denmark, though I know they exist......but doubt strong any Argentinian would easily adapt, (weather, culture, boredom etc)

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La Nacion covered the story of an Argentinian girl who fell in love with a Norge and now lives there:
https://www.google.com/url?sa=…NRWW&ust=1569499045555683

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Splinter · Sep 25th 2019

Imagine Macri announcing a move to dollarise. Just imagine the furore and the reaction from those greedy f**ers who make millions on the peso/dollar spread.

Toys would be thrown from many prams in Microcentro and the rich areas, in a show of gargantuan hypocrisy.

Why stop with a 5 peso coin?

Beer Amount to be spent?

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