After a bill of 100, Banxico goes for a new bill of thousand pesos

After last week the new 100 peso bill by Sor Juana Inés de la Cruz, the General Director of Issuance of Banco de México (Banxico), Alejandro Alegre Rabiela, revealed to EL UNIVERSAL that before the end of the year the new thousand-peso bill will go into circulation.

In an interview with El Gran Diario de México, Alegre Rabiela explained that in days the Bank of Mexico will announce and put into circulation the banknote with a new design, thus closing the 2020 issuance program.

On November 3, this publishing house reported through its column “Unbalance“That this denomination of one thousand pesos had been promised for the second half of the year. It was even said that it would not be strange for the new bill to circulate on November 20, as part of the celebration of the 110th anniversary of the Mexican Revolution.

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This under the pretext that the obverse includes Francisco I. Madero, Hermila Galindo and Carmen Serdán. If this is fulfilled, Mexico would not be the only country to release banknotes, since Uruguay launched two, 20 and 50 pesos, both made of polymer to prevent counterfeiting.

Last Thursday, Banxico introduced a new member of the banknote family, according to the calendar announced long ago. That date was chosen because in the new 100-peso piece the main character, Sor Juana Inés de la Cruz, was born that day, but in 1691.

45 million pieces were issued and it is expected that by the end of November it will reach the hands of 18 million Mexicans to close the year with more than 75 million circulating.

Read also: Covid-19 did not stop the distribution of cash: Banxico

Because it is made of polymer, its cost was higher compared to that of cotton paper, but it has a longer useful life in circulation of 58 months, that is, almost 50% more compared to cotton paper, he stressed.

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On average, he said, it is being estimated that the new family’s bills will cost 1.4 pesos per piece.

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