Higher-denomination banknotes have longer lifespans

Median correlation was 0.9 across 22 central banks

Higher-denomination banknotes have longer lifespans, according to the Currency Benchmarks 2021. 

Central Banking asked institutions for the average lifespan of notes, by denomination. Lifespan was defined as the average amount of time a banknote circulated before having to be removed after being deemed unfit. 

Data from 22 central banks and 130 denominations shows lifespan increased with central bank denomination value, most likely because these banknotes are used as a store of value rather

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