Withdrawal of ARS5 Banknotes from Circulation to Be Postponed

January 24, 2020. The BCRA decided to postpone the withdrawal from circulation of ARS5 banknotes for one month. So, they can be used in all shops in Argentina for all transactions until February 29, 2020.

The measure taken by the Board through Communication A6877 seeks to ease the business transactions of all the players in the financial system. This measure allows banknotes to be deposited in bank accounts or exchanged at bank branches in Argentina until March 31.

Both public and private banks must accept them.

New schedule:

  • Until February 29, they can be used in all shops in Argentina for all transactions.
  • Until March 31, banks must accept ARS5 banknotes as deposits or exchange them. Several banknotes can be collected and exchanged for others of higher denomination.

At present, the ARS5 banknote circulates along with the coin with the same face value. This silver-colored coin featuring a myrtle tree will definitely replace the banknote.

As the banknote of the lowest denomination, the ARS5 paper is damaged more quickly than the rest of the banknotes. ARS5 banknotes featuring General José de San Martín on the obverse were issued in 1998. Now there are 459.6 million in circulation. More than 50 million banknotes have been withdrawn from circulation since August 1, 2019.

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