‘Wear and tear’ the main reason for banknote exchange

Covid-19 raised fears of banknote contamination, but historical exchange is mostly due to worn notes

The most common cause of damage requiring banknote substitution was general ‘wear and tear’ (51.5%), followed closely by contamination (42%), according to new data from Currency Benchmarks 2020.

Between 2019 and 2020, a sample of 33 central banks in this segment reported more than 11.8 billion banknotes had been exchanged due to damage. Perhaps surprisingly, more than 40% of central banks reported banknotes had been returned because they had been damaged by being chewed or eaten.

Currency

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.