Tuesday, February 7, 2023

The 20 peso bill will cease to circulate; binxico explains the reason

Ultimo Diseno De Billete De 20 Pesos 033206
The 20-peso bill will continue to be printed until 2023. Photo: Cuartoscuro

Although there is still time for this to happen, the 20 peso bill will be out of circulation. They will no longer exist and a time will come when there will be only coins of that denomination. The foregoing was reported by the Bank of Mexico (Benxico), which explained the reasons for the decision.

thus, andcommemorative bill of the El 20 peso, that celebrates bicentennial of the independence of mexicowhich was “recognized as the best in Latin America” ​​and was “most beautiful in the world“It will go out of circulation in a while. It will still be printed this 2023 and it is estimated that it will stop circulating in 2025.

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Why is Banksico phasing out the 20-peso bill?

Although the materials from which they are made, such as polymers, cotton and inks, come from Europe, the wear and tear of banknotes due to use means they are taken out of circulation Bank of Mexico, emissions of Alejandro Alegre,

it is about worst banknotesAccording to the information received from the central bank itself, this is the reason why it is getting closer to being out of circulation.

When will the 20-peso bill stop circulating?

He clarified that, despite the fact that it will stop printing in 2023, this 20-peso denomination will co-exist with the 20-peso coins for many more years.

  • The 20-peso denomination corresponds to the first banknote made of polymer and was put into circulation in 2002.

Are 20 peso bills still valid?

Currently, they are in the process of being withdrawn, that is, the indicated denomination is still valid, but, by resolution of Bank of Mexico, will be put out of circulation through banks, This means that they can still be used to make transactions, but when they reach the banks, they will have to be liquidated for deposit in the central bank and they will not have to be re-issued to the public.

last 20 peso bill

The 20-peso bill says goodbye with a commemorative edition celebrating 200 years of Mexico’s independence.

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