Published on the 14th of May 2025
Since the euro cash changeover in January 2002 ,the concept of currency circulation is not relevant nationally. Because of the lack of measurement of banknotes's migration, this indicator is only relevant at the level of the Eurosystem, and represents the overall volume of banknotes and coins in circulation, including those outside the eurozone. At the national level, we use the concept of net issuance, representing the cumulative sum of the differences between the withdraws and the lodgments of each National Central Bank since the introduction of the euro.