Middle income countries recall highest volume of worn banknotes

High income jurisdictions remove notes with the highest average value

Central banks from middle income countries withdrew a higher volume of damaged banknotes from circulation over the past 12 months, the Currency Benchmarks 2023 reveal.

A total of 29 central banks provided data on the volume and value of damaged banknote removal. The sample showed an average of 160.5 million banknotes were pulled out of circulation at an average value of $2.3 billion. The dataset further showed central banks pulled out a minimum of 30.4 notes and a maximum of 998.6 million

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