Mexico printed its own banknotes in-house through its central bank's printing works from the early 1970s onward, and this high-denomination issue reflects the inflationary pressure that made 10,000 pesos a necessary denomination rather than an exceptional one. The peso lost roughly 75% of its value against the dollar between 1981 and 1983, driven by the collapse in oil revenues and the debt crisis that forced a series of devaluations beginning in February 1982.
The P#78 series was eventually superseded by the 1992 redenomination, when 1,000 old pesos became 1 new peso — reducing this note to the equivalent of 10 centavos at a stroke.
Mexico printed its own banknotes in-house through its central bank's printing works from the early 1970s onward, and this high-denomination issue reflects the inflationary pressure that made 10,000 pesos a necessary denomination rather than an exceptional one. The peso lost roughly 75% of its value against the dollar between 1981 and 1983, driven by the collapse in oil revenues and the debt crisis that forced a series of devaluations beginning in February 1982.
The P#78 series was eventually superseded by the 1992 redenomination, when 1,000 old pesos became 1 new peso — reducing this note to the equivalent of 10 centavos at a stroke.