Central Banking

Strong demand for euronotes

The euro has received a good deal of flak recently, but in cash terms it seems people can't get enough of Europe's single currency as the value of euro banknotes in circulation soared past €500 billion in the second quarter of 2005.

From a starting value of around €250 billion just after its introduction in 2002, the value of euro banknotes in use has doubled, according to figures in the August issue of the ECB's Monthly Bulletin. In 2003, the value of notes in circulation increased by over 30%

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