Euro Circulation Hits Record High with Over 31 Billion Banknotes

Piero Cipollone, a member of the Executive Committee at the European Central Bank, highlighted the widespread use and strength of the euro in the market. The currency is used by over 21 countries and more than 358 million citizens, with its significance evident in the figures provided by Cipollone.

There are over 31 billion euro banknotes in circulation, valued at more than €1,600 billion, representing an annual growth of around 3 per cent. In addition to banknotes, there are also more than 150 billion euro coins in circulation.

Cipollone pointed out that the adoption of the euro by Bulgaria this year has brought the total number of countries using the single currency to 27, with an additional 2.3 million people using it. However, the European Central Bank is not responsible for the minting and management of cash, which is printed by individual countries.