Millions of Slovak banknotes are still in circulation

Despite Slovakia having accepted the euro currency in 2009, there were still banknotes worth two billion Slovak crowns, i.e. €72.7 million, in circulation by the end of last year.

Banknote of 20 Slovak crownsBanknote of 20 Slovak crowns (Source: Sme)

In total, 18.8 million Slovak banknotes worth 2.19 billion Slovak crowns were in circulation in 2017; amounting to over 72.7 million euros, or two billion crowns.

On average, each Slovak citizen still owns three to four Slovak crown bank notes (worth 402 Slovak crowns, or €13.35), the TASR newswire cited the central bank’s (NBS) data. People can still exchange them – and memorial coins – for the euro currency for free and without restrictions, in the central bank: in 2017, NBS made 4,572 such deals.

Most circulating banknotes were those with a value of 20 crowns (10.06 million, or 53 percent), followed by 100-crown banknotes (3.4 million banknotes, or 18 percent) and 50-crown banknotes (3.17 million, or 16.9 percent). Only 1.43 percent of the total value of Slovak banknotes remained in circulation, though.

“From circulation, more than 58,000 Slovak banknotes worth more than 34 million Slovak crowns (i.e. €1.13 million) were returned in 2017, most of them 20-crown banknotes (almost 16,000) and thousand-crown banknotes (14,100),” NBS spokesperson Jana Kováčová told TASR.

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