ECB Press Release

PRESS RELEASE - Update on the euro cash changeover, 10 January 2002.

The introduction of the euro banknotes and coins is progressing well. The total value of national banknotes in circulation declined by EUR 9.9 billion (4.7%) on 9 January 2002 to EUR 200.25 billion. This decrease is somewhat less than expected, mainly on account of the time needed for the return of national banknotes by users via credit institutions to their respective national central banks. Nevertheless, demand for euro ban