Currency 2026
Currency Benchmarks 2026 – executive summary
Benchmarks shed light on cash policies, changing substrate choices and staffing issues
EMDE central banks forecast bigger changes in banknote demand
Forecasts are both positive and negative, but the range is much wider than for AE central banks
Recent banknote series show increased use of clear windows
Data reveals changing patterns in application of security features
Share of polymer banknotes continues to rise
Shift into polymer comes at the expense of varnished cotton
Volume of damaged notes withdrawn from circulation increases
Frequency of official fitness tests tends to have bearing on removals
One in five central banks to issue new banknotes next year
Third of respondents have seven denominations of banknotes in circulation
Number of banknote depots linked to cash cycle involvement
Public and private sectors jointly bear distribution costs in most jurisdictions
Mandatory cash acceptance not always backed by other policies
Benchmarking data suggests possible mismatch between demands on banks and merchants
One-fifth of EMDE central banks actively discourage cash use
Digital payments are reducing cash demand, especially in advanced economies
Volume of cash in circulation averages less than 5bn notes
Proportion of payments made using cash averages 40% in past year
Printworks owners have seven times more cash staff
Currency departments generally more satisfied with non-staff resources than staffing