With inflation soaring, Argentina will start printing 10,000 peso notes
BUENOS AIRES, Argentina (AP) — Prices in Argentina have surged so dramatically in recent months that the government has multiplied the size of its biggest bank note in circulation by five — to 10,000 pesos, worth about $10.
The central bank announcement Tuesday promised to lighten the load for many Argentines who must carry around giant bags — occasionally, suitcases — stuffed with cash for simple transactions. Argentina’s annual inflation rate reached 287% in March, among the highest in the world.
The new denomination note — five times the value of the previous biggest bill — is expected to hit the streets next month in a bid to “facilitate transactions between users,” the central bank said. The 10,000 peso note is worth $11 at the country’s official exchange rate and $9 at the black market exchange rate.
Across Argentina, hard currency — specifically, the country’s ubiquitous 1,000-peso notes — remains the most popular way to pay for things. When first printed in 2017, the 1,000-peso note was worth $58 on the black market. Now, it’s worth a dollar.
Related articles
Dogs entering US must be 6 months old and microchipped to prevent spread of rabies, new rules say
NEW YORK (AP) — All dogs coming into the U.S. from other countries must be at least 6 months old and2024-05-09How Lulu still looks fabulous at 75, from her skincare 'golden rule' to refusing to take lifts
She may have shot to fame for her hit song 'Shout' in 1964 - but Lulu recently revealed that she'll2024-05-09Struggling Chinese developer Evergrande warns it could run out of money
Your web browser is no longer supported. To improve your experience update it here2024-05-09My friend turned up to my wedding as a surprise, took four pizzas and had sex with my sister
A groom who was left in an awkward situation on his big day due to a 'surprise' guest has taken to s2024-05-09Zendaya displays her stylish off
Zendaya displayed her stylish off-duty look hours before co-chairing fashion's biggest night - the M2024-05-09McDonald's is dishing out Chicken McNuggets at a discounted price
For the first time ever, McDonald's has reduced the price of boxes of six, nine and 20 Chicken McNug2024-05-09
atest comment