In the face of high inflation, Argentina has issued a note worth 2 000 pesos. Previously the highest-denomination note had been 1 000 pesos.

The note went into circulation on Monday and is worth about $8.50 (or R160) on the official exchange rate. On the more accurate black-market rate it is worth less than half of that.

Argentina is currently battling long-standing high inflation which is just over 100%. The central bank estimates that it could reach 130% this year.

Argentinians are due to go to the polls in October in legislative and presidential elections.


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