The Mexican Revolution will be the central theme and Hermila Galindo, Francisco I. Madero, and Carmen Serdán will appear.
The Mexican Revolution will be the central theme and Hermila Galindo, Francisco I. Madero, and Carmen Serdán will appear.
Demand for Mexican banknotes and coins rose by 21.46 billion pesos (mp) in the week ending May 15, so the preference for keeping and using cash in the economy reached its highest level in the history, at $ 830,043 million pesos, reported by Banco de México (Banxico).
“When there are these kinds of problems, people would rather have money on hand than do credit card operations.”
A 2,000-peso bill is projected to be released in 2022 or 2023
The 2,000-peso bill, announced in late 2018, will not be issued until 2022 or 2023, Banco de México (Banxico) revealed. It is expected that the demand that justifies the circulation of this type of ticket will not be reached until that date, said Alejandro Alegre, general director of Emission of Banxico.
“The ticket is in the work program of the new family, as long as the demand of the population suggests so. We do not see that demand or that variable, we do not see it close in the next three to four years,” he said.
However, he noted, issuing a bill of that denomination would make the lower purchasing power of the population more evident.”As long as there is no need to get very high denomination banknotes, what we have seen is that it would be useless because nobody could change it,” he said.
The plan to issue a 2,000-peso banknote is part of the renewal program for Banco de México’s new banknote family to improve security measures, said Alejandro Alegre.
In May 2019, the circulation of the thousand-peso bill was 74 million pieces , while the circulation of the 500-peso bill was 2 thousand 92 million pieces, according to data from Banxico.
The second banknote with the largest circulation is the 200 peso note, with 901 million pieces, followed by the 100 peso polymer note, with 683 million pieces.
Taking into account all the denominations, 5 thousand 209 million tickets circulate in the country, as of May 2019. This meant an increase of 4 percent compared to the same month of 2018, according to Banxico.
Source: forbes.com.mx, banxico.org.mx
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