Argentina puts 10,000 peso note into circulation

The 10,000 Argentine peso note began to circulate in Argentina this Tuesday (May 7, 2024). The BCRA (Central Bank of the Argentine Republic) stated that the note aims to facilitate local commercial flow and will be distributed gradually.

The value of 10,000 Argentine pesos is equivalent to approximately R$57.56 or US$11.35. The objective would be to reduce the production cost of lower denomination notes, given the high inflation in the country.

Despite the IMF (International Monetary Fund) stating that inflation fell relatively quickly in Argentina, the annual rate exceeded 275% in February.

The new note features an illustration of two historical figures from the country:

• Maria Remedios del Valle (the year of birth is not certain, she died in 1847), considered the “mother of the country”;
• Manuel Belgrano (1770-1820), creator of the Argentine flag.

See images of the front and back of the 10,000 peso bill:

The BCRA stated that it will implement a 20,000 Argentine peso note in the 4th quarter of 2024.