Bank of Mexico to phase out 20-peso banknote

Bank of Mexico

The Bank of Mexico has scrapped the 20-peso banknote from its new series and is considering launching a new larger denomination should there be a “need” for it.

On August 27, the central bank announced the first of the new banknote series, the 500 peso, would be entering circulation immediately. The central bank plans to release the remaining five new notes (50, 100, 200, 500, 1,000 and 2,000) over the next five years. 

In previous series, the central bank has printed a 20-peso note. However,

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