The Bank of Mexico Law establishes that the body is solely responsible and in charge of issuing banknotes and minting coins through the Mint. The design of the banknotes is also the responsibility of the central bank. Since 1969, the Mexican Banknote Factory has issued seven families of banknotes (AA through G).
Since 2018, a new banknote factory was opened in GUadalajara.
Why are the tickets renewed?
Banco de México has three reasons for constantly changing the banknotes that circulate in the country.
1. Maintain security and prevent counterfeiting. And it is that with new technologies and a wide range of scanners and photocopiers, Banxico has to update the security measures of the banknotes.
2. Satisfy user demands. The Bank of Mexico cannot leave anyone out and this includes people with disabilities or visual impairment, therefore, it adds improvements in the design such as touch-sensitive reliefs that also serve for receiving machines such as ATMs.
3. Increase the durability of banknotes. The average life of new banknotes is 8 years, so parts in circulation have to be constantly replaced with inks and materials that are more resistant to deterioration.
Will there be a new 20 peso bill?
The G family of banknotes only comprises 6 denominations: the 50, 100, 200, 500, 1,000 and 2,000 pesos (the latter will only be issued if deemed necessary).
There is no 20 peso bill in the new family of bills because the bank seeks to replace it with coins. However, last month a new commemorative 20 peso bill for the bicentennial of the Independence of Mexico.
This banknote is made of polymer, it has a front in a horizontal direction with a fragment of the pictorial work “Entry of the trigarante army to Mexico City” on September 27, 1821.
The colors that predominate are green and red, and it has reliefs so that people with visual disabilities can recognize the value of the banknote.
The reverse is in a vertical direction and alludes to the Sian Kaan biosphere reserve, which means “where the sky begins”, and which has an important and extensive mangrove territory.