Mexico City. – The current denominations of 20, 50, 100, 200, 500 and 1000 peso banknotes look very normal to us and we are familiar with them.
However, if we think about it, there is no intermediate value between 200 and 500 pesos i.e. no bill of 300 pesos.
The reason why there is no bill of 300 pesos is because the central banks of the world usually use base 1, 2, 5 for cash.
Banknotes and coins issued, powers of 10 enter, and denominations go from 1, 2, 5, 10, 100, 200, 500, etc. This also applies to 10, 20 and 50 cent coins.
Within these categories, groups can be made with the lowest amount of cash to determine the prices of products and services. The same thing happens when change is given or received.
This applies to everyone. However, each country is free to issue denominations of banknotes and coins that suit their needs.
There are cases like the United States, which has a 0.25-cent coin (Washington quarters), or, like Cuba, that has a bill of 3 pesos.
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JBF
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