The Argentine banknote is the newest and represents less than 1% of the total circulation.
The upward trend of the “blue” dollar has an impact on the daily lives of Argentines. With the price at a record number, the $2,000 bill, which the Central Bank of the Argentine Republic (BCRA) put into circulation in May, lost more than 44% of its value.
According to the price that the US currency ended this Friday in the parallel market, only US$2.27 can be bought in the country’s highest value currency.
The Argentine banknote, announced in February, has already suffered losses before reaching ATMs. At the beginning of the year it was worth US$5.27, while in May, when it started circulating, it dropped to US$4.08.
Today, the bill loses more value amid high inflation and jumps to the parallel dollar. With the devaluation initiated by the Government one day after PASO in August, which took the official dollar to $350.50, the bill that pays tribute to Ramon Carrillo y Cecilia Grierson lost more than 30% of the value.
Reduced ticket prices
The $2000 bill is the latest and represents less than 1% of the total circulation. Those who can still buy the monthly quota in banks now buy a total of US$5.70. In May, they took an amount of US$8.21. While in February, for the same amount, you can buy US$9.90.
For comparison, when the $1,000 bill hit the streets on December 1, 2017, it allowed you to buy US$55. Between that time and August 2023, the accumulated inflation reached 1,589.79%, meaning that the purchase of a basket of products that in December 2017 amounted to $1,000, now $16,897.93 is needed.
The ticket at ATMs
The $2,000 bill entered circulation four months ago, but many ATMs are still not updated to read and deliver it.
If an ATM rejects a $2,000 bill, it’s because each bank branch needs to configure the cassette decks in these machines so they recognize new copies. This is a simple procedure, but it is necessary so that a deposit with this type of banknote can be accepted.
Due to the problem, the banking entities explained that the person who cannot deposit the bill can go to the window and exchange it for another small denomination.
Fee inclusion depends on each bank, brand or ATM technology. It is not an easy process to adapt the terminal. Added to this situation is that there are not many $2,000 bills in circulation.