Central Bank closed a contract for USD 20.6 million with the Brazilian Mint to produce and import $ 1,000 banknotes as soon as possible, in time for the traditional increase in demand for cash at each end of the year. The monetary circulation, bills, and coins in stock grew 45% this year amid the isolation measures arranged to face the Covid-19 pandemic. The local Mint could not cope and old $ 100 bills had to be circulated in order to cover the money needs of the banks.
The data of the contract that the Argentine Central Bank signed with the Brazilian Mint were released yesterday by the specialized newspaper Valor Economico. Spokesmen for the Argentine monetary authority chose not to comment.
“Income of 20.6 million dollars renew the expectation of the state company to end the year in financial balance. After two years without closing international agreements, the Brazilian Mint (CMB) yesterday signed a millionaire contract with the Argentine government for the manufacture of 400 million banknotes. Production will begin next month and should last until March 2021, ”published the São Paulo newspaper.