Economy Amid punishing inflation, 10,000-peso banknote enters into circulation in Argentina

[amyang]

A few days ago, we were discussing the counterfeit 2000 peso bills that are circulating. Now, we also need to be vigilant about this new 10000 peso bill.

10,000-peso banknote enters into circulation

In a move that recognises runaway inflation of almost 290 percent, Argentina launches a new high-denomination banknote of 10,000 pesos – worth around US$11.

www.batimes.com.ar

 

[perroc]

We need to be attentive to all the details. At this point, the scammers must already be printing counterfeit bills.

 

[Larry]

You will see more and more counterfeits when the 10,000 and 20,000 peso notes come out. It will be worth their time to make better fakes. Be careful out there.

 

[Betsy Ross]

You can see some of the new security features of the new 10,000 peso note here:

 

[Larry]

Things are a mess even with the 2,000 peso notes which there aren't many of and ATM machines won't even accept them. I am not holding out for anything with the ATM machines and the bigger bills. Things are a mess.

 

[Vince]

Things are a mess even with the 2,000 peso notes which there aren't many of and ATM machines won't even accept them. I am not holding out for anything with the ATM machines and the bigger bills. Things are a mess.

I agree that it is a major hassle with the newer 2,000 peso notes and ATM machines. I am told that the machines don't have the technology to recognize the new 2,000 peso notes so I am would have to assume that the new bills will also have issues.

 

[america]

I found out a few days ago that ATM machines don't accept 2000 peso bills. I tried to make a deposit and couldn't. There wasn't even a sign notifying about it. I had to go to the counter and wait for a teller to assist me in making the transaction.

 

[Sunny]

I agree that it is a major hassle with the newer 2,000 peso notes and ATM machines. I am told that the machines don't have the technology to recognize the new 2,000 peso notes so I am would have to assume that the new bills will also have issues.

The WU teller said that they will be counting the 10K bills by hand, at least for a while.

 

[Vince]

I found out a few days ago that ATM machines don't accept 2000 peso bills. I tried to make a deposit and couldn't. There wasn't even a sign notifying about it. I had to go to the counter and wait for a teller to assist me in making the transaction.

Yes I had the same issue. They are putting up signs up now on ATM's that explain about the issue. And the bank teller told me it won't get fixed for a few months.

The WU teller said that they will be counting the 10K bills by hand, at least for a while.

Yes I think that the counterfeit bills will become a problem and I will make sure to check each bill. The security features sound much better. Probably most of the people getting conned are tourists.

 

[Jenn]

I don't understand something. I thought Argentina barely had any black people. I just saw this post.

Black people in Argentina

I saw this on X. Is this really what black people think that visit Buenos Aires? I rarely see any black tourists at all in Buenos Aires.

www.expatsba.com

So how is the lady on the new 10,000 peso bill? Is this just woke politics? Seems strange Milei would do this.

 

[Betsy Ross]

I don't understand something. I thought Argentina barely had any black people. I just saw this post.

Black people in Argentina

I saw this on X. Is this really what black people think that visit Buenos Aires? I rarely see any black tourists at all in Buenos Aires.

www.expatsba.com

So how is the lady on the new 10,000 peso bill? Is this just woke politics? Seems strange Milei would do this.

It wasn't Milei's decision. The bill was already designed and they were going to use it on a lower-denominated bill. I think it was the 500 peso note but the currency has devaluated too quickly and they decided to change it for the 10k note. It would have cost too much money to change designs and no hay plata.

The woman on the bill is Maria Remedios del Valle.

María Remedios del Valle - Wikipedia

en.wikipedia.org

 

[Finance Prof]

It wasn't Milei's decision. The bill was already designed and they were going to use it on a lower-denominated bill. I think it was the 500 peso note but the currency has devaluated too quickly and they decided to change it for the 10k note. It would have cost too much money to change designs and no hay plata.

The woman on the bill is Maria Remedios del Valle.

María Remedios del Valle - Wikipedia

en.wikipedia.org

Let's just hope by the time they come out they are worth something and don't further devalue. I remember when I first came to Argentina and 100 pesos was about $35 USD!

 

[Sunny]

I don't understand something. I thought Argentina barely had any black people. I just saw this post.

So how is the lady on the new 10,000 peso bill? Is this just woke politics? Seems strange Milei would do this.

The founding father that lady is next to, was Manuel Belgrano, who appointed her as captain. This was in the 18th century, back then there were black people in Argentina, not that many, though. Read more here: https://en.wikipedia.org/wiki/María_Remedios_del_Valle

 

[Betsy Ross]

The founding father that lady is next to, was Manuel Belgrano, who appointed her as captain. This was in the 18th century, back then there were black people in Argentina, not that many, though. Read more here: https://en.wikipedia.org/wiki/María_Remedios_del_Valle

I think probably the topic of Blacks in Argentina lately has to do with them printing the new 10,000 peso note. And I think the discussion is ok.

 

[VINO]

A while ago I got a fake $100 USD bill from a cueva in BA when I had to send in funds to buy furniture. Same thing. My bill I got was bleached $1 bill. It passed the money counter and also the pen test.

 

[Jeb Spencer]

Does anyone understand this? They just released this but this article is saying they are getting rid of them already?? Because of counterfeiting?? That was fast!

https://www.cronista.com/finanzas-mercados/adios-a-los-billetes-de-10-000-por-decision-del-bcra-salen-de-circulacion-y-son-retirados-de-los-bancos/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1715634605

 

[Sunny]

I don't get it either. Today I asked a teller not to give me a 10,000 bill because I was afraid the ATM would not accept it. She gave me 2,000 bills instead.

 

[Jeb Spencer]

I don't get it either. Today I asked a teller not to give me a 10,000 bill because I was afraid the ATM would not accept it. She gave me 2,000 bills instead.

Oh does your ATM accept the 2,000 peso bill? Mine doesn't. Cool that they were already giving out the 10,000 peso note but strange they already stopped it. I don't really understand that article.

 

[RN in BA]

Does anyone understand this? They just released this but this article is saying they are getting rid of them already?? Because of counterfeiting?? That was fast!

https://www.cronista.com/finanzas-mercados/adios-a-los-billetes-de-10-000-por-decision-del-bcra-salen-de-circulacion-y-son-retirados-de-los-bancos/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1715634605

I thought this newer 10k note had all kinds of sophisticated security features? Ha.

 

[Sunny]

Oh does your ATM accept the 2,000 peso bill?

Yes, it does. BTW, the stores are have trouble making change, some were out of 100 peso bills today.