Argentina introduces 10,000 peso banknote

Argentina’s central bank has introduced 10,000-peso notes to address the country’s reliance on large amounts of cash amid economic turmoil. These new notes, valued at $11 each, are intended to streamline transactions and reduce the logistical burden associated with carrying large sums of money. President Javier Milei aims to stabilize the peso by curbing inflation and ending the government’s practice of printing money to fund spending. Despite efforts to reduce inflation and stabilize the economy, the central bank still prints money to pay off short-term liabilities. The bank has also slashed its benchmark interest rate to discourage banks from holding short-term notes and to manage its balance sheet. The introduction of the 10,000-peso notes follows a surge in demand for cash, leading Argentina to rely on foreign printers like China, Brazil, and Spain to meet the demand. Additionally, the central bank plans to introduce 20,000-peso notes later in the year.

Shopping Cart
Scroll to Top
Send this to a friend