The Central Bank (BCRA) launched the $10,000 bill in May and plans to introduce the $20,000 bill in the third quarter of the year. These measures, announced by the government of Javier Milei at the beginning of the year, seek to “facilitate” transactions in a context of high inflation in the country.
To print these banknotes, the Central Bank hired two mints abroad: China Banknote Printing and Minting Corporation (which produces the $10,000 banknotes – which bears the face of Manuel Belgrano and María Remedios del Valle – and the $20,000 banknote – Juan Bautista Alberdi-) and Crane Currency Malta Limited (which also prints another portion of the $10,000 papers).
As far as he could know TN By accessing official BCRA documents, this entity ordered a total of 1,190 million banknotes of both denominations, which 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 Argentine).
The total printing cost will be approximately US$89,525,000. Of this amount, US$78,790,000 will go to China Banknote Printing and Minting Corporation and US$10,735,000 will go to Crane Currency Malta Limited.
A Central Bank source mentioned that the introduction of larger denomination banknotes will considerably reduce logistical expenses, since less paper will be needed to cover the same amount of money in circulation.
With information from TN
