here come larger peso notes

gracielle

Registered

11 May 2020
As defined by the Central Bank...Due to the advance of inflation they prepare the launch of the $ 5000 bill. The loss of value of the $1,000 bill in 2017 which was worth $ 56 and today just over $ 8, according to the blue.....

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on the brink

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It is mind-boggling. I used to tip delivery people twenty pesos, and now must tip one hundred.

Reminds me of a time, years and years ago, when I bought a pair of shoes for well over a million pesos. Not designer shoes - just average shoes from a neighborhood shop.
 

gracielle

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In July, 1989 while visiting CABA, I went for a walk on Calle Florida looking for a pair of winter boots. I found one on display at the Batistella shoe store. It caught my attention that none of the shoes on the display window had a price. I asked the 2 sales persons who promptly replied that none of the store merchandise were for sale due to the hiperinflation. The owners did not want to deplete their stock and empty out their displays until they had parameters as to what will be the manufacturers' cost to replace. So why keep the store open? Because they must continue to pay the salaries of the 2 employees as well as the utilities!
 

Caribbean Cool

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In July, 1989 while visiting CABA, I went for a walk on Calle Florida looking for a pair of winter boots. I found one on display at the Batistella shoe store. It caught my attention that none of the shoes on the display window had a price. I asked the 2 sales persons who promptly replied that none of the store merchandise were for sale due to the hiperinflation. The owners did not want to deplete their stock and empty out their displays until they had parameters as to what will be the manufacturers' cost to replace. So why keep the store open? Because they must continue to pay the salaries of the 2 employees as well as the utilities!
Very interesting report. Perhaps a peek into the future.
 

gracielle

Registered
Very interesting report. Perhaps a peek into the future.
Maybe...but not according to the opinion of the director of the Observatory of Social Debt of the UCA (Argentina Catholic University).


11 May 2020
For Salvia: we are in a crisis "like the Rodrigazo"....he assured that "the scenario of a crisis as in 1975, referring to the crisis known as the Rodrigazo, which included a sharp devaluation and an escalation of inflation.....Salvia recalled that the pandemic at the end of 2019 was 38.3% and indigence 8.7% which "was serious, but worsened even more". In this line, he considered that the big issue will be "what will be left when we get out of the pandemic. We are not going to have the same reality, we are going to be worse"....Regarding the report that they prepare periodically, he anticipated that they will publish it next week. Likewise, he revealed that "there are different projections. At the beginning of April were were almost at 45% poverty, according to the CEDLAS of the UNLP".
 

TomAtAlki

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It seems to me that even though the dollar is soaring, because of the unemployment and lack of any buying power, normal prices haven't been going up. ie Inflation is slower than in sometime. Good for us living on the dollar but horrible for the Argentine people. T/
 

gracielle

Registered

16 May 2020

President Alberto Fernández ruled out days ago that work is being done on the manufacture of a new $ 5,000 bill. "It was an idea that circulated, but we are not going to do it," he said. The official operation, however, seems to contradict his words, according to the reconstruction that LA NACION made through reserved acts of the Central Bank, exchanges between public offices and sources aware of the production of money in the country.

The new $ 5000 bill is well advanced: the paper and inks have already been purchased -something in which the State put about nine million dollars-, it will cost almost $ 6 per unit, its design is finished, what are its measurements security and delivery schedule.....The Central Bank also specified the delivery dates: 20 million bills should arrive in June, 60 million in July, the same amount in August and another 60 million in September....
 
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