The Bank of Mexico has announced the gradual withdrawal of the 50 and 1,000 peso bills, which have been in circulation since 2006 and 2008 respectively. These bills show the faces of important figures in the history of Mexico, such as José María Morelos on the 50 peso bill and Miguel Hidalgo on the 1,000 peso bill.
Banxico mentions that this change is part of the update and improvement of banknotes in the country. Although the bills will remain valid for commercial transactions, once they reach the banks, they will be withdrawn from circulation and destroyed. The F family of bills will be replaced by the G family, which will feature improvements in security, durability, and a renewed design, while maintaining significant elements of Mexico's cultural history.
Despite the absence of Hidalgo and Morelos on the new bills, their images will still be present on the new G family 200 peso bill. The Bank of Mexico seeks to modernize the country's monetary system, ensuring the security and efficiency of banknotes.
The 50 peso bill depicts José María Morelos on the front and the aqueduct of Morelia on the back. Meanwhile, the 1,000 peso bill highlights the figure of Miguel Hidalgo and the bell of Dolores along with the architecture of the city of Guanajuato. In light of this transition, Banxico offers different alternatives for the exchange of bills and coins for others of different denominations, as well as the valuation and replacement of bills not suitable for circulation.
