Thursday, August 18, 2022
US Daily News Onlne

Banksico will use more money to make banknotes and coins by 2022

Mexico. – Despite various global economic problems, during the current year, bank of mexico (Banxico) has considered the use of…

By admin , in news , at May 9, 2022 Tags: ,

Mexico. – Despite various global economic problems, during the current year, bank of mexico (Banxico) has considered the use of more resources for the manufacture of notes and coins.

Per year, the Central Bank of the Mexican Republic produces an average of 1.5 billion banknotes, of which a third are made in its new facilities, which are located in the state. from Jalisco,

For this 2022, Banxico has Plan to allocate 5 thousand 448 crore pesos In physical investment in the manufacture of Mexican paper money and coins to make this resource available in the national market.

Read more: Tomato, avocado and chicken drove inflation to 7.68% during April, Ineghi explains

According to the approved autonomous body’s budget for this year, the amount to be allocated for the fundraising work represents an actual increase of 40.9% over the work specified in 2021 for this work.

Out of the total amount, the maximum will be spent on bills and coins with 4 thousand 322 million pesos, 820 million pesos more than last year,

In this framework, Banxico will use one billion pesos for the production of banknotes, while 3 thousand 314 million pesos will be used for the production of metal coins.

Although the Central Bank produces only those banknotes that are used as a means of payment in the Mexican economy, the federal government employs it through the Ministry of Finance and Public Debt (SHCP), design and circulation of metal coins.

It will be 2022 when Banxico has to decide Will it expand the bill of 2 thousand mexican pesos or notIt has however indicated that, if the well-known sub-project is completed, it will be the new family of G-series banknotes with the highest denomination, so it will be done if it is deemed necessary to meet the requirements. Mexican Market.

Read more: Water! Profeco found fault in these gas stations

Meanwhile, it is believed that at its new campus in Jalisco, the agency will print 120 million copies of the new 50 Mexican Peso BillWhich started airing on October 28, 2021.

They are going to improve the economy in the Ahom; hold trading platform