The Central Bank contracted two overseas Mint firms: China Banknote Printing and Minting Corporation and Crane Currency Malta Limited. In total, it will allocate more than US$1 billion.
He central bank (BCRA) announced at the beginning of May the putting into circulation the new $10,000 billto whom in the third quarter of the year, $20,000 will be added. The government of Javier Milei had already announced the placement of these new papers on the market with the objective of “facilitating” transactions in the context of high inflation that crossed the country.
To print these tickets, The Central Bank hired two Cecas abroad: China Banknote Printing and Minting Corporation (which makes the $10,000 bills – which bears the face of Manuel Belgrano and María Remedios del Valle – and the $20,000 bill – Juan Bautista Alberdi -) and Crane Currency Malta Limited (which also prints another portion of the $10,000 papers).
According to the medium TNhe BCRA ordered in total 1,190 million banknotes of both denominationswhich will be divided as follows:
– 960 million $10,000 bills (average of 21 bills per Argentine).
– 230 million $20,000 bills (average of 5 bills per Argentinian).
How much does it cost to print the new papers
By printing these bills, The Central Bank will pay a total of about US$89,525,000.Of that total, US$78,790,000 will be allocated to the contract with China Banknote Printing and Minting Corporation, while the company Crane Currency Malta Limited will be paid about US$10,735,000.
In China, the $10,000 bill costs $84.92 per thousandthat is, the 1000 units of that currency, while the $20,000 bill has a cost at that same mint of US$58 the thousand units.
For its part, The printing of $10,000 bills in Malta costs US$56 for 1,000 bills..
In both cases, They are values that are below what Alberto Fernández’s management paid for a good part of the banknotes he printed between 2020 and 2023..
