The measure is taken at a time when the country is facing annual inflation of 211.4%
The Central Bank of Argentina announced on Thursday (11 January 2024) that it will put 10,000 and 20,000 Argentine peso notes into circulation this year. The measure is taken at a time when the country faces annual inflation of 211.4%.
In note (completein Spanish – PDF – 379 kB), the Argentine Central Bank said that the issuance of the new banknotes “will facilitate transactions between users, make the logistics of the financial system more efficient and significantly reduce banknote acquisition costs”. In February 2023, the monetary authority had approved the printing of a 2,000 peso billthe highest to date.
Argentina's annual inflation data was released on Thursday (11 January) by Index (National Institute of Statistics and Census). The rate recorded in December was 50.5 percentage points higher than the previous month. Here's the completein Spanish, of the report (PDF – 2.5 MB).
The increase in the month was driven by the goods and services sector (32.7%) and health (32.6%). In November, the monthly rate was 12.8% and the annual rate was 160.9%.
The accumulated rate in 12 months is the highest since May 1991, when it was 232.1%.
Here are the closing indicators for Thursday (January 11, 2024):
- US$1 = 1,095 pesos – in the parallel exchange rate, blue, the dollar fell 0.79%. At the official exchange rate, the North American currency rose 0.10%, quoted at 815 pesos;
- R$ 1 = 225 pesos – in blue, 1 real is worth 225 pesos;
- Stock market falls 2.48% – the S&P Merval index closed at 1,043,924 points this Thursday (11 January).
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