The new 1,000-peso bill will enter circulation in the second half of the year, according to Banco de México (Banxico).
On one side of the paper currency, the Mexican Revolution will be the central theme, featuring the likenesses of revolutionary activists Hermila Galindo, Francisco I. Madero and Carmen Serdán.
The other side of the note will feature jungle imagery including a jaguar, the sapodilla fruit and the ancient Mayan city of Calakmul, in present-day Campeche, the bank said.
En el segundo semestre de 2020 se pondrá en circulación el #NuevoBilleteDe1000 pesos alusivo a la Revolución Mexicana, en el que aparecerán Hermila Galindo, Francisco I. Madero y Carmen Serdán. pic.twitter.com/3EY44zEKq2— EmisiónBanxico (@EmisionBanxico) June 12, 2020
Demand for Mexican banknotes and coins rose by 21.46 billion pesos in the week ending May 15, indicating that consumers’ preference for cash reached its highest level in history, reported Banxico.
Rodolfo Navarrete, director of economic analysis at Vector Casa de Bolsa, said that in times of crisis, a preference for cash liquidity increases.
“When there are these kinds of problems, people would rather have money on hand than do credit card operations,” he said.
These banknotes will have the same security elements as those of other denominations, such as dynamic thread, touch-sensitive reliefs, watermarks, embossed foil and fluorescent inks.
The bill replaces currency introduced in 2018, which is made of pink and violet cotton paper with the figure of the priest Miguel Hidalgo y Costilla on one side and the bells of Dolores on its reverse.