# Argentina's new top banknote is worth as little as $4 | Reuters

> Argentina put its new 2,000-peso banknote into circulation on May 22, the largest denomination. Because the peso has lost about a quarter of its value against the dollar this year, the note is worth $8.50 at the official rate and just over $4 in parallel markets. Inflation is running at 109%.

- Date: 2023-05-22 · published 2023-05-22T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/36236-argentina-s-new-top-banknote-is-worth-as-little-as-4-reuters
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Rapid peso depreciation and triple-digit inflation raise the cost of imported feed inputs for Argentine buyers and keep the local currency under pressure. Export sellers have an incentive to hold grain when the currency is weakening.

## Read by commodity

- USDARS: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/argentinas-new-top-banknote-is-worth-little-4-2023-05-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.