The number of cash in circulation is decreasing in most communities right now. In Sweden, the growing trend with digital payment solutions has meant that the vast majority of neglected cash and instead use bank cards or BankID.
In Denmark, however, use has dropped significantly. This was Denmark’s radio First by reporting.
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Therefore, the number of cash decreases in Denmark
The explanation for the loss is not only that in Denmark as in Sweden you prefer digital payment methods.
In November 2023, Denmark’s national bank announced that the Danish thousand -kroner bill and a number of other older banknotes will be invalid from May this year, and in connection with this, it has been seen that fewer and fewer simply take out new banknotes.
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Many submit banknotes – Fewer takes out
So far, many have submitted the old banknotes and the national bank has received 18 billion Danish kroner submitted during the past year. At the same time, only SEK 4 billion has been paid out in new cash.
According to Denmark’s national bank, it is paid for every thousand kroner bill that has been paid in only SEK 200 in other banknotes.
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Dropped by SEK 20 billion
According to a calculation from Denmark’s national bank, which corresponds to the Swedish Riksbank, there are now almost SEK 48 billion in cash in circulation. The year before, the same figure was 62 billion Danish kroner.
The total of the cash that are now in circulation in Danish society has thus decreased by 20 billion in just one year.
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