Central Banking

National Bank of Denmark to outsource production of banknotes and coins

National Bank of Denmark

The National Bank of Denmark will stop printing banknotes and minting coins in 2016, ostensibly because the demand for new currency has been "falling for some years" and the central bank "does not expect the trend to reverse".

According to a statement issued yesterday, the institution will "outsource these functions to external service providers" and expects to save 100 million krone [$17.2 million] by 2020.

It explained the falling demand for new currency – partially a result of the rise in ele

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