2019-08-29 Thu

Bank of Mexico will start circulating new 200-peso notes in September. The new notes will replace the portrait of Feminist poet and nun, Sister Juana Ines de la Cruz with that of freedom fighters, Miguel Hidalgo and Jose Maria Morelos. The note’s reverse side will depict an image of the El Pinacate y Gran Desierto de Altar Biosphere Reserve of Sonoran Desert.

The notes come with improved security features to curb counterfeiting activities. They are made of more durable materials so that they last longer. They also contain elements that will help visually challenged people to identify denominations. Some additional features will enable identification of banknotes by counting machines. This will be the second denomination in the new series.

A new 500-peso note was introduced in 2018. Portraits of painters Frida Kahlo and Diego Rivera were replaced with that of former president Benito Juarez. The banknote’s colour was also changed to blue just like the existing 20 peso notes, leading to confusion. However, the 20 peso notes will be phased out gradually and replaced by coins of the same denomination.

Officials stated that the production cost of 20-peso notes is lesser than that of 20-peso coins. However, the notes will last for 40 months while the coins will last for over 30 years. This, according to the bank officials, would be more cost-effective in the long run. Mexican currency is known for their varying sizes depending on denomination. This unique feature helps visually impaired persons recognise notes.

Image Courtesy: Bank of Mexico