Mexico to Expand Plastic Money Program

Associated Press
Mexico to Expand Plastic Money Program
01.26.2005, 05:22 PM

Forget paper. Mexico is going plastic - when it comes to cash, at least.

The Bank of Mexico announced Wednesday that a program replacing 20-peso
paper bills with a thin, plastic version will be expanded to the 50-peso
bill.

The new money will begin circulating in Mexico in the second half of 2006.

The plastic 20-peso bills have been a huge success since their debut in
2002, lasting longer than their paper counterparts and proving difficult to
counterfeit, bank officials said.

Mexico decided to start the program with its 20 peso note - its smallest
denominated bill - because it gets the most use in Mexico.

Australia began the trend of using plastic money in 1988.