ARGENTINA TO ISSUE HIGHER DENOMINATION BANKNOTES

Argentina's Central Bank said on Friday it would issue higher denomination banknotes this year and next, in the face of double-digit inflation that has gnawed away at the value of the local currency.

The largest bank note in Latin America's third biggest economy is the 100 peso bill, currently worth $7.4 U.S. dollars. Cash machines often run out of money over long weekends because they cannot contain enough bills to satisfy demand.

From mid-year, the Central Bank will start circulating 200 peso and 500 peso bank notes, and next year will introduce the 1,000 peso note.

"The incorporation of bills of higher denomination is a practical necessity for the better functioning of cash machines and the reduction of the cost of moving cash around," the bank said in a statement.

The Central Bank said the new banknotes would be printed with images of the country's indigenous animals.

To read the complete article, see:
Inflation-stricken Argentina to issue higher denomination banknotes (www.reuters.com/article/us-argentina-economy-idUSKCN0UU00J)

To read the complete article, see:
Argentina's Approach To Inflation: Ditch The Peso, Hoard U.S. Dollars (http://kccu.org/post/argentinas-approach-inflation-ditch-peso-hoard-us-dollars)

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