BUENOS AIRES, Argentina (AP) — Critics of President Cristina Fernandez say she missed a perfect opportunity to ease strains on Argentina’s currency supply when she unveiled a new 100-peso note honoring Evita Peron this week, shunning calls for bigger bills as inflation erodes the value of the paper in people’s wallets.
The 100-peso note is still Argentina’s highest denomination, worth just $22 at the official exchange rate and about $16 in the illegal exchanges that most people have to use to buy dollars amid ever-tighter currency controls. With rampant inflation, that forces people to handle increasingly large wads of cash.
Real journalism.Trusted by millions.
Unlimited access to in-depth reporting, expert analysis, and the stories that shape our country.
Already a member? Log in