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The number of 500 euro banknotes continues to decline and is reaching historic lows

The number of 500 euro banknotes in circulation continues to decline and stood at 13.9 million in April, reaching the…

By admin , in news , at May 29, 2022

The number of 500 euro banknotes in circulation continues to decline and stood at 13.9 million in April, reaching the lowest level ever recorded, only 20 years ago in January 2022, when the euro entered circulation and the figure stood at 12.7 million. million was.

The denomination of all 500 euro banknotes was in the fourth month of the year 6,950 million euros, compared to more than 7,200 million euros in MarchAccording to the latest provisional figures published by the Bank of Spain, that represents a decline of 3.5% and 19.1% in a month compared to the figure a year ago (8,600 million).

The Governing Council of the European Central Bank (ECB) agreed to cease production of 500-euro banknotes in early May 2016. In pursuance of this decision, the Bank of Spain has ceased to issue 500-euro banknotes as of January 2019, although they will continue to be legal tender so they can continue to be circulated and used as a means of payment and for value. Can be used as a store. Ask to buy and save.

Similarly, professional sectors, such as banks, cash transfer companies or offices and currency exchange, among other establishments, will be able to re-circulate 500-euro bills.

These banknotes will retain their value indefinitely and can be exchanged at any time at the central and national banks of the euro area.

The difference between 100, 20 and 10 euro bills widens

On the other hand, the number of banknotes 50 euro Circulation in April increased by 9 million compared to the previous month, to 1,483 million units, amounting to approximately 74,150 million euros. On their part, the value of the 200 euro bill increased to 2 million units in April, amounting to about 400 million euros.

in case of tickets 100 euroThe gap between the banknotes that were distributed and the banknotes withdrawn remained in August, when entities operating in Spain distributed more banknotes to the Bank of Spain than were in circulation.

Notably, the difference between the 100-euro banknotes distributed and withdrawn in the fourth month of 2022 was 131 million units, which is almost three million more than the previous month.

This situation may be due to the fact that the country is a recipient of tourism and likely that tourists Several banknotes of this type have been brought to Spain in recent years. Most of the tourists’ money ends up in credit institutions, which return part of these bills to the Bank of Spain because they don’t need that much money to meet their customers’ liquidity needs.

As for the 10 and 20 euro notes, the net balance between what was delivered and what was returned was also negative in April. The difference was 1,603 million bills in the first case and 2,239 million bills in the case of 20 euros, an increase of 4 million over the previous month.

The number of 500 euro banknotes continues to decline and is reaching historic lows

2022-05-29 09:57:11