Central Bank to release 2000-peso banknote amid 95% inflation

The bill will be worth US$10.66 at the official rate and US$5.63 at the MEP rate, twice as much as the current highest denomination bill.

The board of the Central Bank approved today the issue of the AR$2000 bill (US$10.66 at the official rate and US$5.63 at the MEP rate at the time of writing). It will become Argentina’s highest-denomination bill.

According to sources close to the matter, the new bill could be on the streets as soon as June or July this year.

In 2022, Argentina reached a soaring 94.8% inflation rate which almost halved the value of the current largest bill, which is worth AR$1000. Currently, that bill is not enough to buy two 2.25 liter Coca-Cola bottles, which cost 1,116 pesos, nor a small Big Mac combo, AR$1740 at the time of writing. 

The decision aims to optimize cash transportation and automatic bank tellers’ operations, while the government works on the “process of payment digitalization”, according to a press release.

The new banknote, designed by Argentina’s mint and the Central Bank, will have portraits of Argentine medicine pioneers Cecilia Grierson and Ramón Carrillo on it, as well as an illustration of the Instituto Malbrán, the country’s most important health research center.

Official sources confirmed to the Herald that in August or September this year, the Central Bank will release another banknote family, announced in 2022. Its values will range from AR$100 to AR$1000, and will be illustrated with portraits of María Eva Duarte de Perón (AR$100); Martín Miguel de Güemes y Juana Azurduy (AR$200); María Remedios del Valle and Manuel Belgrano (AR$500), and José de San Martín (AR$1,000).


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