Coin Very,1

Could this be the answer to the coin shortage in Argentina?

After over a year Argentina is still facing a shortage of coins. But the Chinese market stall owners have come up with a idea to get round this- printing up their own money.

Chamber, the Chinese owned supermarket brand in Argentina which has connections to most of the markets throughtout the country is giving customers money vouchers when the change in thier tills runs out. Chamber is using this as a plan to retain brand loyalty with the company in the country and save the chain money from allowing them to make less trips to illegal coin holders. This comes from the illegal coin holders that are springing up around the country since the shortage came about last year. Argentina’s coin black market is big at the moment, with the coin holders charging rates of 15% and travelling across the city to supply their customers.

With the world in a recession its more that people dont want to spend money, rather than not having it. Instead of spending the money they’ve decided to save it. This is exactly what has been happening in Argentina- people are hording the coins, rather than spending them. The government has placed millions of more coins into circultaion to try and solve the problem, but people are starting to horde the coins. The coins are mainly used for public transport, which now has a prepaid ticketing system that cost $57 million to implement as an attempt to keep more coins in circulation. This was also put in to stop the 3% interest fee that bus companies were charging to exchange and ‘dispose’ of the coins.

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Is there light at the end of the tunnel for the countries money problem? A new prepaid card system for the transport industry and more 136 million more coins being minted in the first few months of the year. It may be the beginning of Argentina beginning to crawl out of it.

Go here to exchange foreign coins or to have cash conversions

AJAX gameplay (1 coin through stage 5)

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