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The Central Bank of the Argentine Republic (BCRA) unveiled 1000 pesos banknote

The BCRA puts into circulation the new legal tender of $ 1000. As of December 1, it will be distributed progressively throughout the country. The obverse of the bill, designed in a vertical manner, refers to the baker as representative animal of the Chaco Pampeana Region.

The Central Bank of the Argentine Republic (BCRA) puts into circulation the bill of 1000 pesos with the image of the baker, which will be distributed progressively from tomorrow, December 1, through the network of bank branches and ATMs throughout the country .

The 1000 peso bill, which has strict security measures, is the fourth of the new “Native Animals of Argentina” family . The first was the 500 peso bill with the image of the yaguareté, launched in June 2016, the second one of 200 pesos with the southern right whale, in October of the same year and the third, the 20 pesos , with the image of the guanaco, in October of 2017. All have a vertical design on their obverse and seek to highlight the enormous wealth and diversity of our country and raise awareness about the preservation of the environment.

Among the main security measures of the new banknote, the watermark, which reproduces the portrait of the baker and presents, centered on the lower part, the denomination “1000”, stands out on the obverse. The main security thread has a brown colored band. In addition, it has a secondary security thread, a thin integrated band that can be seen against the light.

Also, as a reason for complementation front-back, shows a partial footprint of the bird, located to the left of the watermark; which is completed by transparency with the reverse. In the intaglio print you can see a portrait of the baker and the code for people with visual disabilities with a relief that is perceptible to the touch. The motifs printed in violet color show yellow luminescence in ultraviolet light.

On the reverse, the vertical numbering on the left margin is observed in red color, with red light in the ultraviolet light and the horizontal numbering, in the upper right corner in black ink, with digits of variable size. Finally, the 1000 peso bill, whose paper is 90 g / m2 cotton, maintains the same size as the Peso Line.

Like all members of the new family of tickets, it has an element dedicated to attract the attention of children. In this case, there is a representation of a hornero pigeon in the lower left corner.

The $ 1000 bill offers a tribute to one of the most representative species of our country. The hornero, the national bird of Argentina, is an emblematic bird that is distinguished by the elaborate nest that molds with mud, straw and roots, which makes it very resistant to the incidences of the weather. It measures around 20 centimeters, with feathers of earthy color, and it inhabits so much in the field as in the cities. He maintains a partner throughout his life and develops most of his activities as a whole, including the care of the chicks.

The new bill of 1000 pesos was presented today at a ceremony held at the Primary School Number 1 “Pilar Beltrán” in the city of Lobos, province of Buenos Aires. It was attended by the Deputy General Manager of Payment Methods of the BCRA, Julio Pando, the director of Wild Fauna and Biodiversity Conservation of the Ministry of Environment and Sustainable Development of the Nation, Santiago D’Alessio, of the provincial director of Primary Education from the Province of Buenos Aires, Mónica Dillon, from the director of the institution, Eliana Yoia, from the Deputy Director, María Candela Dinomo, and more than 250 students from elementary schools in the area.

The impact of the new banknotes

The introduction of the new banknote family implies an important renewal of the currency, as well as a greater efficiency and reduction in printing costs. In this way, throughout 2017, high-denomination banknotes will be printed to supply the demand for cash, the replacement of impaired currency and have an appropriate reserve of protection, for 237,500 million pesos. This amount of cash will be supplied through the printing of 300 million bills of $ 200, 145 million of $ 500 and 105 million of $ 1,000, totaling then 550 million bills. If that amount was only replaced by $ 100 bills, 2.375 million bills would be required.

The unit cost of each $ 200 and $ 500 bill is approximately $ 1.65, each $ 1,000 bill costs about $ 1.90, while the $ 100 bill costs $ 1.47 per unit. Therefore, the manufacture of cash to supply the demand for high-denomination currency will take the Central Bank, a printing expense of $ 933 million in 2017. If it had done only with the old $ 100 bills, the total cost incurred would have it was $ 3,491 million. In this way, the new denominations will save $ 2.558 million this year.

Also, thanks to the introduction of the $ 1000 bill, the cost of transporting, carrying and keeping money, which is one of the most important in the Argentine banking system, will be reduced.

New family of tickets

The new series consists of six bills with the image of the hornero, the yaguareté, the southern right whale, the taruca, the condor and the guanaco. The obverse of each ticket, refers to the figure of a typical animal of each region, while the reverse emphasizes the characteristic habitat of that species. In this way, the new family of tickets represents a meeting point for Argentines, putting our fauna at the center and strengthening everyone’s commitment to the environment, happiness and life.

Along with the improvement in the safety and quality of cash in circulation, the Central Bank of the Argentine Republic aims to promote the development of new means of electronic payment, which imply a significant reduction in costs, increase security in transactions and encourage greater financial inclusion.

Source : bcra

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