Central Banking

Demand soars for high-value euro notes

The value of €500 ($715) notes in circulation surged past a quarter of a trillion euros in 2008 to reach €262 billion in November.

The number circulation increased 16% over 2008, double the rate of increase for all notes.

While the number of the European Central Bank's (ECB) highest value note in circulation had been growing in line with overall growth, in October the eurosystem issued an extraordinary 69 million €500 notes, three times the amount usually issued. That month, in which the credit

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