Last updated on September 16, 2019
Mexico City, Mexico — The Bank of Mexico (Banxico) unveiled the new 500-peso bill that went into circulation.
They say the new bill represents the historical process of the Reformation and the restoration of the Republic with President Benito Juárez (1806-1872), who issued the Reform Laws with the support of radical liberals. For his defense of human liberties, which was an example for other Latin American countries, he was proclaimed Benemérito de las Américas.
On the back of the new bill, Banxico say they have added the gray whale and an ecosystem of coasts, seas and islands. “The ecosystem of coasts, seas and islands is represented by a gray whale with its whalebone in the Vizcaíno Biosphere Reserve in Baja California Sur, recognized by UNESCO as a natural heritage of humanity,” they explained.
Alejandro Díaz de León, head of Banxico said that the objective of the new image is to generate a national identity and respect for natural ecosystems. He said the 500-peso bill will be the first of new bills that will gradually replace current bills around the country.
Aside from photos, Banxico says the new 500 peso bill has new security features, is fluorescent on the back, is user friendly for the visually impaired and is longer and made of cotton, adding that the lower denominations will continue to be made from polymer.
They intend to gradually replace all Mexico’s currency over the next four years. The new bills will represent six historical processes of the country and will allude to the Mexican ecosystems inscribed on the list of World Heritage recognized by UNESCO.
These include the Ancient Mexico / Rivers and Lakes for the 50-peso bill, La Colonia / Temperate Forests for the 100, Independence / Thickets and deserts for the 200, Reform / Coasts and Seas for the upcoming 500 peso bill and the Revolution / Rainforests will mark the 1,000-peso bill.
Banxico says they are also contemplating a 2,000 peso bill but would only be produced if they feel it is required by users. If produced, they say it would have Octavio Paz and Rosario Castellanos on the back agave landscape and old industrial facilities of Tequila on the back.
The new 500 peso bill began circulating August 27.