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 —

Argentina has a new largest banknote, the 10,000 peso, which is five times the size of the previous top bill but still only worth around $10 as the South American country grapples with the world's highest inflation rate that is nearing 300%.

Argentina’s peso has shed 95 per cent of its value over the past five years as a severe economic crisis has taken hold, driving the annual inflation rate to 287 per cent in March. President Javier Milei,

Inflation-battered Argentina on Tuesday introduced a 10,000-peso banknote, worth the equivalent of about $11 -- five times the face value of the previous biggest 2,000-peso bill.