Argentina suspends minting of coins

Pile of coins

The Central Bank of Argentina has ceased minting new coins, according to media reports. Rising metals prices have made the coins too costly to produce.

The commodities shock, combined with Argentina’s double-digit inflation, have made the coins’ constituent metals more valuable than the coin’s face value. As of January, Argentine statistical authorities recorded year-on-year inflation of 50.9%.

Some Argentine entrepreneurs have begun purchasing Argentine coins – both current and demonetised

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