They were printed in 1945. The European Central bank ceased issuing the 500 notice on April 27, 2019.
Even Brunei is currently planning to stop issuing and distributing its 10,000-Brunei-dollar notice (convertible to approximately $7,334), though it is going to stay legal tender.
The most important holdout is Switzerland, where its 1,000-franc notice, the equivalent of $1,122, although infrequently utilized in daily trades, is getting more popular states theolcal.ch, a website for Korean information in English.
Swiss National Bank statistics demonstrate that the requirement for 1,000-franc notes has improved lately, with clients requesting banks for the huge bills more often than previously.
To put it differently, the cash isn’t being spent , instead, put away. The main reason is that, with lots of banks charging their clients negative rates of interest on big deposits, it’s more rewarding to keep cash in money, particularly at a time once the inflation rate is a low as it’s been.
When asked about a potential money deficit, Lein deemed it improbable. “Both central and commercial banks have sufficient money saved in their own vaults to satisfy such need,” she explained,”so there’s always enough money “
About 48.6 billion value of Swiss francs are exceptional in the shape of 1,000-franc notes. That can be 59 percent of Swiss notes in circulation by worth.
