Argentina will remove the 5-peso bill from circulation
The currency will be received in all stores in the country until January 31st. However, they can be exchanged at banks until February 28th
Due to the inflation that affects Argentina’s economy, the five-peso bills will cease to circulate on January 31st, as stipulated by the Central Bank of Argentina (BCRA), although, they may be exchanged at banks until February 28th.
Despite the fact that the measure was announced last August, the BCRA has withdrawn more than 50 million five-peso bills, with 459.6 million still in circulation in the hands of the Argentines.
As the days go by, Argentine society is increasingly convulsed with respect to this issue. Most Argentines do not want to have a five-peso bill in their wallet as for February 1st so consumers try to get rid of them in each purchase. Menawhile, the establishments return them every time they must give change.
The situation has become so hostile that the consumers defense body in Buenos Aires warned that establishments that do not want to accept five-peso bills will be subject to sanctions.
While some Argentines prefer to keep their five peso bills as a treasure others have chosen to get rid of them in sectors such as art and collecting. On the other hand, José Bergoglio, Pope Francisco’s nephew, will place ballot boxes until February 28 in several cities of Argentina with the intention of collecting the largest amount of paper money, according to the campaign sponsored by the organization he has been leading.
K. Villarroel
Source: bancaynegocios
