Since its release, the $ 500 bill has lost more than half of its value – 17/05/2019

Six months after the inauguration of Mauricio Macri, Federico Sturzenegger's Central Bank inaugurated with the $ 500 bill the new drawings of the coin, with images of native wildlife. The yaguarete has come to break with two "traditions": the figure of the heroes on the banknotes and the resistance of the government of Cristina Kirchner to validate the need to have higher value banknotes Inflation decreasing the purchasing power.

The $ 500 note, green as the $ 5 bill, began to be distributed on June 30, 2016. "The incorporation of the denomination of $ 500 allows the most profitable note of the Argentine economy (had not still left the $ 1,000) increase your purchasing power and its relative value measured in currencys. In addition, this ticket will facilitate an adequate supply of ATMs and reduce the costs (from 5 to 1) and delivery times of the money transfer. It will also streamline many daily operations, improve the quality of life of the Argentineans", said the Central Bank at the time.

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At that time the administration of Macri was taking its first steps, Horacio Rosatti baduming the Supreme Court, money laundering was voted and there was still money for the historical repair of pensioners. There was talk of "green shoots" and low taxes.

With these 500 dollars, the Argentineans could buy nearly 33 dollars. Now it's just under $ 11, a third of what was achieved three years ago. The dollar was $ 15.20 and the high sky rate was 31%. This Friday, the average currency started at $ 46 and the rate is 71.57%, more than double.

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But we must specify that there was a delay in exchange at that time. If the current dollar is removed the cumulative inflation that existed between June 2016 and last April (by 133%)the ticket should have been $ 20.

In June 2016, it took less than 14 US $ 500 bills to pay a minimum wage in Argentina. Today, 25 of them are needed.

With yaguaret, three years ago, a typical family could buy the milk for the whole month (31 liters). At present, it reaches only 12 liters, according to the list of products handled by INDEC.

There were foods that had almost doubled their value, such as bananas: in 2016, the $ 500 reached 20 pounds and now only for 10. With the apple, something similar has happened.

When it's out, with the new ticket, you can buy meat for a barbecue for 8 people (if you take the average of half a kilo per person). Now, this is not enough for four.

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But there are products that have grown even more, such as oil. In 2016, you could buy 16 bottles of 1.5 liter sunflower oil, while you currently only reach five. (from 15 to 6 kilos), a proportion similar to what happened with the dollar.

With $ 500 today, 11 liters of super naphtha are laden today, while three years ago you could almost fill a small tank (39 liters). The high-quality naphtha is around $ 50, although oil companies are careful not to pbad this "psychological barrier".

Not only have motorists seen how to put three green tickets to refuel. Smokers, who with 500 dollars could take 11 packages of the most famous brand and who had returned, do not pay today 6. And some packages already cost 100 dollars.

The sudden fall in purchasing power is seen every day. The last sample was that, for the first time, this year Sugar was the best-selling product per unit in the hot sale that just ended. And the yerba was among the top five positions, according to the lists published by Mercado Libre. It is that three years ago, with $ 500, they bought 18 packs of half a kilo and now only 7.

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