The amount of all €500 banknotes in the seventh month of the year was €6,557 million, 2% less than in June and 19.9% less than the value of the previous year (€8,192 million), according to the latest preliminary data from the Bank of Spain. The Europa series will be complemented by the introduction of the new €100 and €200 banknote denominations, but unlike its predecessor, it will not include the €500 note after the ECB announced the cessation of printing in May 2016. The issuance of banknotes and coins that are legal tender is the responsibility of the central bank in its capacity as the country`s monetary authority. “The euro banknotes of the first series could no longer be legal tender in the distant future, having been announced well in advance,” the ECB said, stressing that they would, however, retain their value indefinitely and could be exchanged indefinitely in the Eurosystem`s national central banks. Once this procedure is completed, according to the ECB, the public`s opinion will be sought again, although, unlike the first stage, these are the subjects selected to organise a design competition for the new banknotes later. In the latter case, the Governing Council shall have the final say on the design chosen in the final procedure. €500 banknotes are still legal tender, so they can still be used as a means of payment and store of value (i.e. to buy and save). Banks, bureaux de change and other companies in the sector will also be able to exchange €500 banknotes.
The number of €500 banknotes in circulation in Spain amounted to €13.1 million in July, approaching the all-time low reached 20 years ago when the euro entered circulation and the number of “purple” banknotes was 12.7 million. German graphic designer Reinhold Gerstetter was responsible for updating the design of the euro banknotes, which in his Europa series include countries included since EU enlargement in 2002. However, the volume of €200 banknotes fell in July to around 704,000 coins worth around €140.8 million. All banknotes printed with the inscription Convertible Legal Tender remain in circulation and serve as a means of payment. Back to top This situation may be due to the possibility that tourists have brought many tickets of this type to Spain in recent years. Much of the tourists` money ends up in credit institutions that return some of these notes to the Bank of Spain because they do not need them to meet the liquidity needs of their customers. The new banknote retains the “eras and styles” design of the first series and shows the same dominant colours, although they have been “slightly” modified to incorporate security features that make it “easy” to distinguish them from the banknotes of the first series. The new €50 banknote, which corresponds to the Europa series and contains new security measures, will be put into circulation in euro area countries on Tuesday 4 April 2017, according to the European Central Bank (ECB). The number of €50 banknotes in circulation increased by 9 million to 1,502 million units in July compared to the previous month, amounting to around €75,000 million.
Despite the arrival of the new €50 banknotes, the denominations of the first series will continue to be issued with the new ones until stocks run out and until the notes of the two series circulate in parallel, the ECB said. The banknotes have a uniform size of 155 mm wide and 65 mm high. The paper used is made of 100% cotton fibers, weighs 83 g / m2, is free of fluorescence in ultraviolet light and prints in three consecutive steps using offset printing, chalk and typography systems. The European Central Bank is preparing new banknotes to replace those that have been in circulation for almost 20 years. This was confirmed by the agency itself in an official statement published on its website. The €50 note contains various complex security measures such as watermarks, invisible ink, holograms and micro-prints to ensure its authenticity. In April 2017, around 9.257 billion fifty euro banknotes were in circulation in the euro area. It is by far the most widely used denomination, accounting for 44% of the total number of banknotes. [3] The introduction of the new €50 banknote is in addition to the gradual introduction of the lower europa series banknotes following the placing on the market of the €5 banknote (2 May 2013), followed by the new €10 banknote (23 September 2014) and the new €20 banknote (25 November 2015). Specifically, the difference between banknotes distributed in the seventh month of 2022 and notes withdrawn of €100 amounted to 139 million units, about three million more than the previous month.
These banknotes retain their value indefinitely and can be exchanged at any time with the central banks and national banks of the euro area. In 2017, the Europa series was introduced on the €50 banknotes, which had already been introduced on the €5, 10, 20, 100 and €200 banknotes in 2013, 2014, 2015, 2018 and 2018. Those of 500 euros were abandoned on January 27, 2019. [8] In addition, professions such as banks, cash-in-transit companies or bureaux and exchange services may put into circulation €500 banknotes. This window becomes transparent when looking at the backlit banknote, which is an “important” advance in banknote technology that makes it “even more difficult” to counterfeit. In addition, the banknote contains an emerald toll-free number that changes color to dark blue when tilted. In addition, the commemorative coins listed below, which are issued in reduced quantities, are legal tender, which is why they are barely found in daily circulation. For €100 banknotes, the gap between banknotes distributed in July and banknotes withdrawn remained after companies operating in Spain delivered more banknotes to the Bank of Spain than was put into circulation. At the beginning of May 2016 the Governing Council decided to stop the production of €500 banknotes. Pursuant to this decision, the Bank of Spain has stopped issuing €500 banknotes since January 2019, although they remain legal tender, so that they can continue to circulate and be used as a means of payment and as a store of value, i.e. to buy and save. The introduction of the new €50 banknote is part of the European Banking Authority`s commitment to improve the security features of euro banknotes, so a hologram has been introduced that includes a window with a portrait of the goddess Europa on both sides of the banknote.
Your feedback is essential to ensure that the euro banknotes in circulation are of the highest possible quality. Take this short electronic survey and let us know what you think of the invoices you process on a daily basis. For the €10, €20 and €5 banknotes, the net balance between distributed yields and yields in July was also negative. The difference in the first case was 1.627 billion banknotes; 2,274 million banknotes for €20 and €214 million for 5 banknotes. According to ECB President Christine Lagarde, “it`s time to update the look and feel of our banknotes so that Europeans of all ages and backgrounds can identify with them.” At the same time, he also claimed that these notes “will remain here” because of their demand and are considered an “intangible symbol” of the European Union, even in times of crisis. In terms of current designs, images of various monuments or historical figures predominate, as well as other elements common in all types of banknotes, such as the word “EURO”, its symbol (€) or the flag of the European Union. There are seven banknotes in circulation, the five-euro, 10, 20, 50, 100, 200 and 500 euro banknotes, as well as the one-cent, two-hundred, five-hundred, ten-cent, 20- and 50-cent coins and the 1- and 2-cent coins. The unit value of €50 is the most widely used in the Eurosystem with more than 8,500 million banknotes, or about 45% of the total circulation, ahead of the €20 mark with 3,363 million banknotes and the €10 and €100 banknotes, each with around 2,200 million banknotes in circulation. The banknotes of the new Europa series represent an evolution. Although they retain the “eras and styles” design of the first series and show the same dominant colors, they have been slightly modified to incorporate the improved safety features, making them easily distinguishable from those of the first series. Reinhold Gerstetter, an independent banknote designer based in Berlin, was chosen to update the design of the euro banknotes. The new banknotes also include countries that have joined the European Union since the introduction of the first series.