Inflation-hit Argentina launches new top banknote, worth just $10

Argentina has introduced a new banknote, the 10,000 peso bill, which is five times larger than the previous highest denomination.

Despite its size, the bill is only worth around $10 due to the country’s staggering inflation rate, nearing 300%.

Issued by the central bank, the new note features images of independence icons Manuel Belgrano and Maria Remedios del Valle.

The introduction of this larger denomination, along with plans for a 20,000 peso bill later in the year, aims to streamline transactions, simplify financial operations, and reduce costs.

Argentina’s persistent triple-digit inflation and devaluing currency have eroded the value of its money over time, leading to a reliance on carrying large amounts of cash for everyday expenses.

The current 2,000 peso bill is worth just over $2 at the official exchange rate, making it less valuable compared to currencies in neighboring countries, Reuters reported.

read more: https://finance.yahoo.com/news/inflation-hit-argentina-launches-top-142212028.html

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley

Follow Me On Truth Social
https://truthsocial.com/@BC_Begley

#Argentina #Inflation