In Argentina, the high number of banknotes in circulation does not equate to wealth; rather, it highlights the severe devaluation of the currency.
The highest denomination, a 10,000 peso bill worth about $10.20, has only been available for four months, illustrating the complexities of currency in Argentina.
Despite having 11.9 billion banknotes, Argentines often rely on virtual wallets to make transactions due to the sheer volume of cash needed for daily purchases.
In Argentina, basic expenses require an overwhelming amount of cash, such as needing around 150,000 pesos for groceries, highlighting the hyperinflationary environment.
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