The Central Bank of the Argentine Republic (BCRA) reported that it will begin issuing a $2,000 bill, so far the highest denomination.

As explained by the entity, the new banknote was designed in collaboration with Casa de Moneda and “commemorates the development of science and medicine in Argentina and will have the Malbrán Institute as protagonists, and Dr. Cecilia Grierson and Dr. Ramón Carrillo, precursors in the development of medicine in our country”.

The images of Grierson and Carrillo will be on the front, while “on the back of the bill is represented the building of the National Institute of Microbiology Dr. Carlos G. Malbrán”.

The BCRA also specified that “While the payment digitization process progresses, this higher denomination bill will improve the operation of ATMs and at the same time optimize the transfer of cash.”

In this regard, they indicate that “Immediate transfers had a year-on-year growth in December 2022 of 98.8% in quantities and 18.7% in amounts; and payments with interoperable QR transfers grew 41.4% year-on-year as of December of last year. The development also extended to payment by check. ECHEQ’s participation in total compensation reached 33.1% in quantities and 57.9% in amount”.

Read more: Blue dollar through the roof: it increased by almost 9% only in January

The decision comes after many questions about the lack of a higher denomination bill. Last year, Nation had announced a new series of banknotes that would replace animals with heroes.

Due to inflation, the Argentine peso lost so much value against the dollar that it was left behind in the entire region: the $1,000 equals $3.10 if it is compared against the savings dollar (accessible -with a quota of US$200- only for some 600,000 Argentines per month) or to $2.60 Y 2.80 if it is contrasted against the average prices of free financial dollars or, directly, against the value of the day of the informal or blue dollar.