As with the first series of banknotes, during the design phase of the second series, users with vision problems were consulted and their requirements were included in the final designs. For the €10 and €20 banknotes, the net balance between the banknotes distributed and yields was also negative in December. The difference in the first case was 1,575 million banknotes, compared to 1,577 million in November 2021 and 2,193 million banknotes for 20 euros, three million less than the previous month. 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. Finally, the liquidity put into circulation by the Bank of Spain amounted to €15,929 million in the eleventh month of the year (€11,222 million in banknotes and €4,707 million in coins), 41.8% less than in December 2017. Although the Governing Council of the ECB has agreed that the European Central Bank will cease the production of €500 banknotes, they are still legal tender, so they continue to circulate and can be used as a means of payment and as a store of value, i.e. to buy and save.
Specifically, the difference between notes distributed in December and those withdrawn in December was 64 million units, 28 million more than the December 2017 difference (36 million). The number of €500 banknotes in circulation stood at 14.9 million at the end of 2021, the lowest value in almost 20 years, in January 2002, when the euro entered into circulation, according to the latest preliminary data from the Bank of Spain, which stopped issuing this type of banknote in January 2019. This means that the banknotes disappear. At the time of the announcement of the cessation of the issuance of the €500 banknotes, the Bank of Spain had already indicated that they were still legal tender and that they could therefore circulate and be used to save and pay (“as a means of payment and deposit”). Specifically, the difference between banknotes distributed in the last month of 2021 and notes withdrawn of €100 amounted to 122 million units, which corresponds to about two million more than the previous month. €500 banknotes are becoming increasingly difficult to see Although banknotes can be used, they cannot offer their customers all the facilities. Only a few centres can do so, always after carrying out the appropriate checks to ensure the legality of these tickets. This situation may be due to the possibility that tourists have brought many such tickets 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. 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. This situation may be due to the fact that the country is a beneficiary of tourism and 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. Similarly, professions such as banks, companies that transport funds, or bureaux and bureaux de change, including €500 banknotes, can be put into circulation. These banknotes retain their value indefinitely and can be exchanged at any time with the central banks and national banks of the euro area. These notes will retain their value indefinitely. According to the latest figures published by the Bank of Spain, the number of €500 banknotes put into circulation in November was 31 million, one million less than a month earlier, at the level of February 2003 and had also decreased by 7 million compared to the previous year. Thus, the amount of all the €500 banknotes amounted to €15,500 million. The decision to stop producing these notes is due to the “growing concern” of public opinion that they are being used for criminal activities such as corruption or the financing of terrorism. According to the Bank of Spain, only the professional sectors have the right to put into circulation the €500 banknotes, i.e. to hand them over to customers on request. These cases include banks, cash-in-transit companies or bureaux de change. Due to the link with the underground economy, these operations receive greater attention from the Ministry of Finance, which still has (banks) all movements, including 500 euro notes.
The purpose of this continuous information channel is to be able to carry out the appropriate checks and to ensure that there are no indications of criminal offences. The reason for this is that these €500 notes, which have aroused so many fantasies among citizens, are no longer issued. Only banknotes issued before 2019 are in circulation: as of this year, the Bank of Spain stopped issuing €500 banknotes, in line with a recommendation from the European Central Bank that justified it in the frequent relationship between these notes and criminal activities such as fraud or money laundering. Have you noticed that there are fewer and fewer €500 banknotes? Well, maybe after reading this question, you let out a few laughs and thought. “I`ve never seen one,” you`re not alone. It`s quite complicated to have come across these types of banknotes, and when you see them, it seems that we saw a unicorn, did it happen to you? The truth is that the use of these notes has been linked to criminal activities such as fraud or money laundering, so the European Central Bank has taken the firm decision not to issue them again in 2019. However, some are still in circulation. “These banknotes will remain in value indefinitely and can be exchanged at any time in the national central banks of the euro area,” the ECB said. However, you can only find them in three places (or at least they can circulate there without any problems): banks, cash transport companies and exchange offices. As El Heraldo points out, the number of €500 banknotes in circulation continues to decline, reaching 13.9 million this April, approaching the lowest level recorded only 20 years ago in January 2022, when the euro entered into circulation and the figure was 12.7 million The volume of all €500 banknotes amounted to €7,450 million in the last month of 2021, compared to more than 7,750 million euros the previous month, which corresponds to a decrease of 3.8% in one month and 18.1% compared to the previous year (9,100 million).
The number of €50 banknotes in circulation rose to 1,064 million in December, 38 million more than a month earlier, although this figure is three million lower than a year ago.
