The history of the tickets in Argentina It is a mirror of its complex economic vicissitudes. Since the return of democracy in 1983, the nation has gone through multiple monetary transformations that not only reflect stabilities and crises, but also significant sociopolitical changes. In a recent chapter of this saga, the Central Bank has put into circulation new 10,000 peso bills.
Each series of tickets in Argentine monetary history it has been a direct response to the inflation. The high rates forced the Mint to print increasingly higher denominations and frequently modify monetary lines to try to regain public confidence and stabilize the economy.
The monetary transition in Argentina began with the elimination of the Peso Law 18,188 and the introduction of the Argentine Peso in the last days of the military dictatorshipmarking an effort to stabilize a falling economy. This significant change included the removal of four zeros from the currency and the implementation of new banknotes that would soon fall victim to rampant inflation, leading to the introduction of ever higher denominations.
This line was valid until the appearance of the Southernin June 1985when another 3 zeros were removed to the national currency: 1,000 Argentine pesos were transformed into 1 austral.
The australes were presented with banknotes of 1, 5, 10, 50 and 100. Then, inflation marked history again and in 1988 the 500 and 1,000 austral banknotes were added and between 1989 and 1990 the 5,000, 10,000, 50,000 banknotes appeared. , 100,000 and It also expanded in denominations until that of 500,000 australeswhich indicated the severity of the inflationary crisis of the late 1980s.
In 1991Argentina marked the beginning of the third contemporary monetary line with the return of the Peso, eliminating another four zeros and established a parity of 10,000 australes to 1 peso. This measure was yet another attempt to control persistent inflation and stabilize the economy through significant monetary simplification.
Nowadays, This Peso line continues in circulationalthough not exempt from the inflationary challenges that have historically characterized the Argentine economy.
Since their introduction, smaller denomination banknotes such as those of 1, 2 and 5 pesos have been removed from circulation, a testament to their declining purchasing power. Those of 10, 20, 50 and 100 pesos are still common, although with different models that have been introduced over the years to improve safety and design aspects.
In addition to the changes in their face value, the banknotes have also changed their design. In the first series they focused on political figures and national heroes, then images of native fauna were adopted, and finally the national heroes returned.
He Argentine peso with the highest denomination was 10,000 and, like the current 10,000 bill, the hero who illustrated it is Manuel Belgrano.
He Austral with the largest denomination was 500,000 and on the bills it was Manuel Quintanapresident of the Argentine Nation between October 12, 1904 until his death on March 12, 1906.
The peso with the highest denomination is the one that entered circulation today, 10,000. The ticket has the images of Manuel Belgrano and of Maria Remedios del Valle, heroine of the War of Independence, on the obverse; and the artistic recreation of the scene of the Pledge of Allegiance held on February 27, 1812, on the reverse. The image of Belgrano is from a portrait attributed to the French artist François Casimir Carbonnierwhile the representation of the heroine belongs to the work The Captainmade by the Argentine artist Gisela Banzer.
During the period of military rule that began in 1976, Argentina faced a series of severe economic challenges. Inflation, already high, skyrocketed further due to expansionary monetary policies and a series of erratic economic decisions. José Alfredo Martínez de HozMinister of Economy from the beginning of the dictatorship until 1981, implemented policies of economic opening and financial deregulation that, although initially seeking to modernize the economy, ended up exacerbating inflationary problems and increasing the country’s external debt.
In November 1981, the Central Bank of the Argentine Republic issued the highest denomination bill all over the world at that time: 1,000,000 pesos .
This bill, signed by Egidio Ianellapresident of the entity at that time, was more than a means of transaction: became a symbol of hyperinflation and economic destabilization.
