With inflation soaring, Argentina will start printing 10,000 peso notes

Buenos Aires, Argentina:Prices in Argentina have surged so dramatically in recent months that the government has multiplied the size of its biggest ba...

Buenos Aires, Argentina: Prices in Argentina have surged so dramatically in recent months that the government has multiplied the size of its biggest bank note in circulation by five - to 10,000 pesos, worth about $10.

The central bank announcement Tuesday promised to lighten the load for many Argentines who must carry around giant bags - occasionally, suitcases - stuffed with cash for simple transactions. Argentina's annual inflation rate reached 287% in March, among the highest in the world.

The new denomination note - five times the value of the previous biggest bill - is expected to hit the streets next month in a bid to "facilitate transactions between users," the central bank said.

The 10,000 peso note is worth $11 at the country’s official exchange rate and $9 at the black market exchange rate.

Across Argentina, hard currency - specifically, the country’s ubiquitous 1,000-peso notes - remains the most popular way to pay for things. When first printed in 2017, the 1,000-peso note was worth $58 on the black market. Now, it's worth a dollar.