The statistic shows the value of banknotes in circulation in the United Kingdom (UK) from 2014 to 2018, listed by denomination. It was observed that the total value of 20 pound banknotes in circulation was the highest. It amounted to 41 billion British pounds in 2016, and grew further in 2017 to nearly 43.4 billion GBP. Before the banknotes enter circulation, they have to pass the production tests, related to the quality of notes and security of the money. Many factors influence the length of the time a banknote stays in circulation, including the overall durability but also non-altered signals in automated authentication, for security. The lifespan of notes can also vary for different denominations, as some are more frequently used in making payments. If a banknote no longer meets the quality standards, it has to be taken out of the market. The reasons for removing banknotes out of circulation are multiple, and they can include the banknotes having been damaged (washed, chewed or damaged by fire), as well as having been contaminated. According to data, as of 2018, the total value of all banknotes in circulation on the UK's market was equal to approximately 68.9 billion GBP.
Total value of all denomination banknotes in circulation in the United Kingdom (UK) from 2014 to 2018 (in million GBP)
The statistic shows the value of banknotes in circulation in the United Kingdom (UK) from 2014 to 2018, listed by denomination. It was observed that the total value of 20 pound banknotes in circulation was the highest. It amounted to 41 billion British pounds in 2016, and grew further in 2017 to nearly 43.4 billion GBP. Before the banknotes enter circulation, they have to pass the production tests, related to the quality of notes and security of the money. Many factors influence the length of the time a banknote stays in circulation, including the overall durability but also non-altered signals in automated authentication, for security. The lifespan of notes can also vary for different denominations, as some are more frequently used in making payments. If a banknote no longer meets the quality standards, it has to be taken out of the market. The reasons for removing banknotes out of circulation are multiple, and they can include the banknotes having been damaged (washed, chewed or damaged by fire), as well as having been contaminated. According to data, as of 2018, the total value of all banknotes in circulation on the UK's market was equal to approximately 68.9 billion GBP.
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| £5 | £10 | £20 | £50 | |
|---|---|---|---|---|
| 2014 | 1,540 | 7,182 | 36,483 | 11,025 |
| 2015 | 1,601 | 7,371 | 38,912 | 11,788 |
| 2016 | 1,645 | 7,767 | 41,037 | 13,157 |
| 2017 | 1,912 | 8,006 | 43,357 | 15,601 |
| 2018 | 1,910 | 7,789 | 42,692 | 16,508 |
© Statista 2018
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