It will be gradually distributed across the country from December 1. The obverse side of the banknote has been designed vertically and features the rufous hornero as the representative animal of the Chaco-Pampas Region.
Image of the ARS1,000 Banknote
The BCRA puts into circulation the new ARS1,000 banknote with an image of the rufous hornero, which will be gradually distributed from December 1 through the network of bank branches and ATMs across the country.
The ARS1,000 banknote has strict security features. It is the fourth banknote in the series called “Argentina’s Native Fauna.” The first banknote of the new series, the ARS500 banknote featuring the jaguar, was launched into circulation in June 2016; the second one was the ARS200 banknote featuring the southern right whale, that started to be in circulation in October 2016; and the third one was the ARS20 banknote featuring the guanaco, released into circulation in 2017. They have a vertical layout on the front, highlighting the enormous richness and biodiversity of Argentina, and aiming at raising awareness about environmental protection.
Some of the main security features include the watermark on the obverse, with an image of the head of the rufous hornero and the “1,000” denomination centered at the bottom. The main security thread consists in a windowed brown band. There is also a secondary security thread—a thin band that can be seen when holding the banknote up to the light.
The new banknote presents a see-through register: half of the animal’s footprint printed, on the left of the watermark, fits exactly with the other half of the image on the reverse side. The intaglio printing shows a picture of the rufous hornero and the code for the visually impaired stand out in relief. Finally, the images printed in purple turn into yellow luminescence under UV light.
On the reverse, the serial number is displayed vertically in red ink on the left-hand margin visible in red under UV light, and horizontally in the upper right-hand corner in black, and increase in height. The ARS1,000 banknote, made of 90 g/m2 cotton paper, has the same size of the Peso Series.
Like all other banknotes of the Native Fauna series, it has an element dedicated to children, in this case, a baby hornero is featured in the bottom left-hand corner.
Image of the ARS1,000 banknote
The ARS1,000 banknote pays tribute to one species that best represents our country. The rufous hornero, Argentina’s national bird, uses mud, straw and roots to build a nest resembling an old outdoor oven, making it strong against harsh weather. It is about 20 cm long, with brownish feathers, and lives in both the countryside and cities. It mates for life, and both the male and the female do most of the work, even taking care of the baby birds.
The new banknote was presented today at Primary School No. 1 “Pilar Beltrán” in Lobos, province of Buenos Aires. The BCRA’s Means of Payment Deputy General Manager, Julio Pando; the Wildlife and Biodiversity Conservation Director, under the scope of the Environmental and Sustainable Development Ministry, Santiago D’Alessio; the Primary Education Director for the province of Buenos Aires, Mónica Dillon; the school’s Principal, Eliana Yoia; and Vice-Principal, María Candela Dinomo; and more than 250 primary school students attended the event.
The Impact of the New Banknotes
Introducing a new banknote series allows for renewing money in circulation, gaining efficiency and cutting printing costs. Along 2017 high-denomination banknotes will be printed to meet the demand for cash, replace damaged banknotes and build a back-up reserve, for ARS237.5 billion. This amount of cash will be supplied through 300 million ARS200 banknotes, 145 million ARS500 banknotes, and 105 million ARS1,000 banknotes, for a total of 550 million banknotes. If that amount were supplied through ARS100 banknotes only, 2.38 billion banknotes would be needed.
The cost of each of the ARS200 and ARS500 banknotes is around ARS1.65; each ARS1,000 banknote costs nearly ARS1.90, while ARS100 banknotes cost ARS1.47 each. The BCRA will spend ARS933 million to print high denomination banknotes of the new series to satisfy the demand in 2017. If the BCRA had only printed old ARS100 banknotes, the total cost would have been ARS3.49 billion. The new denominations will save ARS2.6 billion this year.
Moreover, the introduction of the ARS1,000 banknote will reduce the cost of cash transport, handling or storage, which is one of the greatest costs in the Argentine banking system.
New Banknote Series
It consists of six banknotes featuring the rufous hornero, the jaguar, the southern right whale, the taruca, the Andean condor and the guanaco. The obverse side of each banknote features the image of an animal native to each Argentine region, while the reverse side depicts the habitat of each species. The new banknote series thus represents a meeting point for Argentinians, with our fauna at the core, and seeks to strengthen everybody’s commitment to the environment, joy and life.
Apart from improving the security and quality of money in circulation, the BCRA seeks to promote the development of new electronic means of payments which significantly reduce costs, make transactions more secure and encourage greater financial inclusion.
