20 pesos bill in Mexico: when will it go out of circulation?
(CNN Spanish) — The 20 peso bill is the lowest denomination bill in circulation in Mexico. Its value is approximately equivalent to US$ 1.
According to the Mexican central bank, the Bank of Mexico (Banxico), the 20 note is the fourth highest demand throughout the country, which makes it one of the best known.
Currently, the ones that can be found the most in the streets of this denomination are two:
Will these two 20-peso bills stop circulating soon?
As of 2018, Banxico began to introduce its new family of banknotes with the 500 pesos. This new family has as distinctive the letter g.
Since then, have entered circulation new banknotes of the G family: the 200 in 2019; those of 100 and 1,000 in 2020; and the 50-peso coin in 2021. Also in 2021, the commemorative 20-peso coin for the bicentennial of Independence came into circulation.
Despite the entry into circulation of this last commemorative, Banxico Indian since the beginning of the new family of banknotes that the 20-peso banknote “will gradually cease to circulate as a banknote and will be replaced by currencythis as a result of various technical and cost-benefit studies that have been carried out”.
Therefore, we can ensure that at some point those two 20-peso bills will no longer be there, but…
Is there an exact date for your retirement?
The 20 banknote of the F family, the one from 2007, is no longer manufactured, according to the Banxico website. However, it retains the same value and is still in circulation, as it is not yet on the list of “In process of withdrawal“(The only one of that family that is in the process of withdrawing is the 1,000 pesos).
Meanwhile, the September 2021 commemorative is the most recent, it is still being manufactured and Banxico has not placed it on the “In process of withdrawal” list.
It is worth mentioning that being on the “In process of withdrawal” list means that the bills continue to have the same value, transactions can be made with them, but they are no longer in circulation. “This means that (…), when they arrive at the banks, they must separate them to deposit them in the Bank of Mexico and not deliver them to the public again,” explains the Banxico.
CNN sent a request for comments to the Bank of Mexico to find out if there is already an official date for its withdrawal, but has not yet received a response.