During the year 2022, the Bank of Mexico (Banxico) embarked on a significant task: remove some Mexican bills and coins from circulation. This process had as its main objective the introduction of new models with advanced security elements and modern designs that would make counterfeiting difficult.
As a result, it is possible that In this year 2023 you have no longer encountered these bills and coins in your daily life. In Debate we tell you which were some of the bills and coins that no longer circulate:
Banknotes and coins out of circulation:
The banknotes that stopped circulating belong to the Family D, D1 and F. Family D, which was in circulation since 1996 in commemoration of the 75th anniversary of Banxico, included copies such as the $10 bill with the image of Emiliano Zapatathe $20 bill with Benito Juarezthe $50 one with Jose maria morelos and pavonthe $100 one with Nezahualcoyotl and the $200 one with Sor Juanaamong others.
The D1 Familyin circulation between 2001 and 2004, includes the banknote $20 with Benito Juárez, as well as more modern versions of the $50, $100, $200 and $500 bills. The $1,000 bill was also incorporated with Miguel Hidalgo y Costilla.
Banxico also decided to withdraw from circulation 10 cent coinsas well as the commemorative $20 and $100 coins. In contrast, new coins belonging to Family C1 were issued, which are part of Family C introduced in 1996.
Despite these changes, the banknotes will continue to be in circulation. F and F1 familyas well as the most recent designs of the G Family.
The $1000 peso bill is also ‘gone’:
Furthermore, recently, the Bank of Mexico announced the gradual withdrawal of the $1,000 peso bills as part of its policy of renewal and updating of the money in circulation.
The fundamental objective of this strategy is to improve the security of banknotes and prevent counterfeiting. The withdrawal of $1,000 bills It will be done gradually to minimize disruptions to the economy and ensure a smooth transition.
He Bank of Mexicoas the entity responsible for issuing the national currency and establishing the country’s monetary policy, seeks to guarantee the stability of the currency’s value and maintain confidence in the financial system.
To achieve this, it prints banknotes under strict control and uses advanced technology to incorporate security measures that make counterfeiting difficult and protect the value of the currency.
With regards to the ticket withdrawal, the Bank of Mexico carries it out in a planned and gradual manner. This is done periodically, especially with banknotes that face high counterfeiting rates or have a limited shelf life.
The withdrawn tickets They are replaced by new issues with improved security features, which helps maintain the integrity of the country’s financial system.
The monetary renewal In Mexico it is an essential part of the country’s economic policy, aimed at ensuring that banknotes and coins in circulation meet the highest standards of security and quality.
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