It has to happen
"According to sources in the sector, the request of the entities is that $5,000 and $10,000 bills be issued and that the smaller denominations be taken out of circulation,..." (translated)
And then of course what will happen is that when you try and pay for a beer (or whatever) with a $10,000 note, the seller won't have the change!
And offer you chocolate bars for change
"According to sources in the sector, the request of the entities is that $5,000 and $10,000 bills be issued and that the smaller denominations be taken out of circulation,..." (translated)
And then of course what will happen is that when you try and pay for a beer (or whatever) with a $10,000 note, the seller won't have the change!
The plan is to get rid of the ten and twenties which aren't any use anyway.
I would also think the 50 has its days numbered as well.
A 10,000 dollar note would only be worth 27 dollars.
Rumours also indicate that it would be the Messi and the Scaloneta squad on the big note.
Display MoreThe plan is to get rid of the ten and twenties which aren't any use anyway.
I would also think the 50 has its days numbered as well.
A 10,000 dollar note would only be worth 27 dollars.
Rumours also indicate that it would be the Messi and the Scaloneta squad on the big note.
I wouldn't object to that or even this:
I wonder if the number of larger denomination coins in circulation would be increased, or if Argentina would follow the example of Italy in the late 1970’s? Unable to give change because of the shortage of coins, merchants instead gave a mint or a couple of wooden matches.
With the devaluation of the pesos, also rounding of prices and changes have gone downhill. If in the past the "ley del redondeo del vuelto" was to the nearest 5, in favor of the client, I now see sellers rounding even more, since there is a shortage of money in circulation.
For example, yesterday I stopped at Carrefour to buy a bottle of water. On the shelf it was priced 175. At the cashier I was charged 183. I had prepped 180 in hand, and told the lady at the cashier that the price shown in the aisle was 175, and that I would have to give her a $1000, instead. She waved her hand like it didn't matter and that it would be round to 180 anyway.
I have seen a similar approach also at PagoFácil, where they also round a 8 to 0 or 10 to 0.
Another thing I have noticed, is that at PagoFácil they have a maximum daily cash amount they can collect from payments. Of course, this was hardly ever reached in the past, but now sometimes at 2 PM or 4 PM the small PagoFácil one block from here is already displaying "no more cash payment accepted for today / debit card only".
I was once queueing for a solid 30' and when it was my turn, the system showed that message: the lady in front of me paid like 10 invoices by cash, and she too out a wad of bills from a paper brown bag. I was afraid it would be the case, and after she left the lady of the PagoFácil told me i was out of luck because the system was showing the message.
I told her to put out a sign because there were 10 people waiting outside. She said that she doesn't know this in advance: when the pop-up appears, that's it. Bummer.
Since the regime can't bring itself to mention inflation and larger peso notes in the same sentence, it has at last acknowledged the need for larger bills and confirmed a new $2000 note. That clearly doesn't go far enough but a $5000 note is said to be under 'evaluation'. Still not enough, so leave the $2000 and just give us peso bills for 5k and 10k.
A big fuss is being made by the regime about who appears on the notes which frankly I couldn't give a toss about.
Also, the central bank has been fighting against larger denominations for a couple of years, saying that it wants people to move more towards electronic payments. Yeah, right, but cash is king in Argentina and some are making or will make loads of money out of this stupid, mindless decision to print $2000 bills, but that's Peronism for you.
By the time its printed the 2000 peso note will be worth less than 5 USD
Argentine monetary history repeats itself -
The government is showing its lack of intelligence yet again.
If they bring out a 10,000 peso note with a picture of the World Cup squad no one will be annoyed and actually might be quite happy.
I hear that the 2,000 note will be out shortly as the printing plates have been ready since last year.
You should be their marketing consultant, GlasgowJohn -
You should be their marketing consultant, GlasgowJohn -
I was about to write the same! Or a whole series of new bills celebrating the players, with maybe a Messi bill worth 100k ARS to make sure it will stay around a lot longer than the rest.
Apparently a new larger denomination bill of 5000 or 10000 is being seriously considered with Messi and co on one of them, so perhaps we would have to thank the World Cup winners for the new, larger bills in the end?
Lionel Messi podría ser la cara de los nuevos billetes: los DETALLES de la propuesta | TN
It's going to be Monopoli money in a decade anyway, so why not?!
It's going to be Monopoli money in a decade anyway, so whyIt already is!
It already is!
Apparently, they are easing some onto the market this week. But the vast majority of the notes are being printed overseas as they could not do so in Argentina.
It could only happen here - paying USD ( which you can't afford) to get notes printed abroad to foster inflation in Argentina further
The new bills are being printed in Spain , Brazil and China......
But apparently they wont be here until later in the year.
… while the government further depletes its supply of dollars by paying Spain, Brazil, and oh yes - - Cristina’s bestie, China, to print the new notes. Oh, but I am forgetting: they probably would be happy to be paid in pesos.
