Monday, March 4, 2024

Banxico began its withdrawal from Mexico

It was recently announced that the 50 peso bill of the F family, that is, those with the effigy of José María Morelos y Pavón will start taking over the banks starting this year. The latest update on the Banxico page about this note already announced the “withdrawal process“.

Also, via 𝕏 (formerly Twitter), Banxico uploaded a picture of 50 peso bills that are on their way to retirement. They are all part of the families from B to F.

Banxico added by announcing that all these editions still have currency validity. This means that if we have 50 pesos bills from the B family, which were put into circulation on January 1, 1993, they continue to have their face value. As well as all other families up to F.

Together, the families from C to F represent all the 50 peso bills that present José María Morelos y Pavón as an effigy, so slowly the 50 peso axolotl is the most present in our wallets. The final bills of Morelos, the self-proclaimed “Servant of the Nation“, were put into circulation on November 21, 200617 years ago today.

An effigy present since 1994

Its dimensions are 127 x 66 mm, On the front are two cannons forming an “X” and an arch pointing upwards with the initials “SUD”, which identifies the coins produced by the Southern Army, commanded by Morelos during the War of Independence. In the background, they show the aqueduct of the city of Morelia Michoacán, which was built in the 18th century. In addition, it has three monarch butterflies and an emblem of the state of Michoacán, stylized and referring to the area’s pre-Hispanic heritage.

Keep in mind that all these bills will still retain their value and that their withdrawal is gradual, so it will take time for them to completely disappear from circulation. This is another step towards a new money market, where The G family banknotes, and future editions, are the only ones available in the country. However, we will miss these beautiful magenta Morelos banknotes.

World Nation News Desk
World Nation News Desk
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