Hyperinflation has plagued Argentina for decades, with periods of rapid and uncontrollable inflation eroding the value of their currency and destabilizing the economy. Factors such as excessive government spending, and high levels of public debt (IMF loans) have contributed to this cycle of hyperinflation. The recent election of President Javier Milei has brought renewed attention to Argentina’s economic woes and the need for bold reforms. Milei has been vocal about the need for dramatic economic reforms, including reducing government spending, less gov intervention in the economy and promoting free-market policies. One of his first policies was devaluing the currency. Read along to learn about the new Argentina 10000 Pesos banknote.

Front of BCRA | Source: Wikipedia

On May 7, 2024 the Central Bank of the Republic of Argentina (BCRA) officially introduced its new Argentina 10000 Pesos banknote. It’s currently the largest denomination banknote in circulation. The central bank said that smaller denomination banknotes have been removed from circulation and replaced with this new larger denomination, as to not cause further inflation by simply printing more banknotes. It will be gradually introduced throughout commercial banks in the following weeks. It’s currently worth approximately $11 USD with the official exchange rate and approximately $9 with the blue market exchange rate as of May 2024.

Argentina 2,000 Pesos Banknote, 2023 ND | Source: Banknote World

Up until this release the largest denomination banknote was the Argentina 2,000 pesos banknote note. It’s colored in shades of pink, red, and black. Its obverse side features denomination as registration device, facade of Malbrán Institute, Dr. Ramon Carrillo and Dr. Cecilia Grierson, caduceus and denomination on shield in green-to-blue OVI. Its reverse side shows the coat of arms and facade of the National Institute of Microbiology in Buenos Aires. Security features include a green windowed security thread with demetalized BCRA and a watermark of Ramon Carrillo, Cecilia Grierson, and electrotype RC and CG.

Argentina 10000 Pesos | 2024 | Source: BCRA

Features of the New Argentina 10000 Pesos Banknote

The new Argentina 10000 Pesos banknote is colored in shades of white, with blue. The obverse side features portraits of Manuel Belgrano who is a national hero credited with creating the national flag and for his participation in the war of independence. In addition, there is a portrait of Maria Remedios del Valle who’s efforts were also vital in the Argentinian war of independence. The reverse side shows an image of the pledge of allegiance to the Argentine flag that took place on February 27, 1812. Security features include a red security thread, a watermark showing the faces of Belgrano and Remedios. In addition to micro lettering and optically variable ink.

Security Features of the new Argentina 10000 Pesos | 2024 | Source: BCRA

Sources:

thumbnail: https://es.wikipedia.org/wiki/Archivo:Banco_Central_de_la_Rep%C3%BAblica_Argentina_-_Buenos_Aires.jpg

https://www.bcra.gob.ar/micrositios/Micrositio-billete-10000-pesos-del-Valle-Belgrano.asp

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