Article via https://www.theguardian.com on 22 May 2023
Argentina’s new 2,000-peso bill, the country’s largest-denomination note, went into circulation on Monday, though due to fast depreciation of the currency it is worth only $8.50 at the official exchange rate and just over $4 in commonly used parallel markets.
Most Argentinians buy dollars in unofficial markets where they trade at over 480 pesos versus the official rate of 235.
“This higher denomination bill will improve the operation of ATMs and at the same time optimize the movement of cash,” the central bank said in a statement on Monday.
The largest bank note previously had been the 1,000-peso bill.
The new 2,000-peso banknote has a design commemorating the development of science and medicine in Argentina, the central bank said.