Argentina Introduces 2,000 Peso Banknote. It’s Worth About $4

05/22 22:45

Argentina has introduced a new 2,000 peso banknote as inflation rates soar over 100% per year. However, the note is only worth about $4 according to parallel exchange rates and $8.50 at the official rate due to currency controls and government restrictions. The fast depreciating currency has caused logistical issues for customers, businesses, and banks who have had to accommodate more notes for ATMs. Consumer prices rose by 109% in April alone, with economists predicting annual inflation near 150% over the next year.

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