ECB Press Release

PRESS RELEASE - Update on the euro cash changeover, 8 January 2002.

In the second week of the introduction of the euro banknotes and coins, the euro cash changeover is progressing as expected without any major hitches.

At the same time, the withdrawal of the legacy currencies is advancing rapidly. After dropping sharply in the course of 2001, from EUR 380 billion on 1 January 2001 to EUR 270 billion on 1 January 2002, the circulation of national banknotes fell an additional 18% in the first wee

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