The Central Bank (BCRA) announced yesterday that come December, the new AR$ 1,000 bill will go into circulation.
The note, which will have the image of Argentina’s national bird, the hornero, will replace the 500 peso bill as the highest denomination of bank note in current circulation and will constitute 11 percent of the total emission of paper money. The official design has not been revealed yet so you will have to deal with this crude image that is available around the web.
Ever since the Macri administration took office, the BCRA has released AR$ 200 and AR$ 500 notes, with images of a Blue Whale and a Yaguareté, respectively. Moreover, it intends to replace the AR$ 5 and AR$ 10 notes with coins next year, making the AR$ 20 the lowest-denomination note.
The landing of the hornero bird represents the Macri administration’s aim to replace all historic leaders on bank notes with animals, in an attempt to depoliticize the currency. As such, the 500-peso note which came in last year, bears the image of the yaguareté. Similarly, Juan Manuel de Rosas, who led the Battle of Vuelta de Obligado against the Anglo-French invasion is gradually getting the axe, as his face on the AR$ 20 note is slowly being replaced by that of a guanaco, a South American camelid.
With this move, the Central Bank, under the direction of its president Federico Sturzenegger, is looking to reduce costs, relieve the strain on storage space and produce better quality money. To elaborate, it is much cheaper for banks to produce coins than print notes, and coins also have a much longer self life than notes.