The end of the 500 is consistent only in the global comparison
| Reading time: 4 minutes
This Friday the Bundesbank puts an end to the issue of 500 euro banknotes. However, the euro zone still has one of the most valuable notes globally. Most countries have much lower amounts.
Whas ever tried to pay with a 100 euro note, you know: at least a painful facial expression to the seller and often also an open refusal. Many do not even accept banknotes. In this context, it is easy to understand that the Bundesbank is ending the issue of new 500 euro notes this Friday. Yet the clamor is great, even if practically exclusively in Germany.
In fact, most of the currency areas of this world are banknotes whose highest denominations are even lower, even and especially the large industrialized nations. The end of the 500 euro note therefore seems only logical and coherent. Especially since even the 200 euro bill only a few notes exceed the value of the world. However, a glimpse of the neighboring east of Germany is surprisingly close.
At the beginning of May 2016, the Governing Council of the European Central Bank (ECB) decided that production and issuance of the 500 euro note would be suspended "towards the end of 2018". The other 17 national central banks of the euro system had already closed the problem on 26 January 2019.
However, a longer transitional period was granted to German and Austrian central banks as they took most of the 500 euro notes. For them, the logistical effort to replace them with more notes of other denominations is therefore greater. On Friday, however, they are also finalizing the release of new 500s.
Important politically undesirable bills
Therefore, the 200 is the most precious euro banknote for the future, which is still in circulation in new copies. But even this is much more than in most other countries. In the United States, the most valuable account is only $ 100, or the equivalent of around $ 90 – and you will hardly ever see it in everyday life.
Even lower is the value of the British pound note with the highest value: 50 pounds or about 58 euros. After all, the issuing banks in Scotland and Northern Ireland, but also bring the bills to 100 pounds in circulation.
Although the Japanese 10,000 yen note appears valuable at first sight, those who know the conversion rate but notice that it is only worth 80 euros.
In Kuwait, the maximum is even a 20 dinar account, worth at least 59 euros, but that's not too much to start with – after all, Kuwait is not an economic place on earth.
The highest denominations of the respective currency are even lower in many developing countries. But also in China, which has now passed this stage, at least in some parts of the country. And that's why the most valuable banknote today is only 100 yuan (13.30 euros).
There is still a lot of money left for many farmers and migrant workers. If higher value banknotes were distributed, it would be a sign of how far they are still compared to the upper urban classes. This is not wanted politically.
Central banks in Singapore and Switzerland do not have such problems. Switzerland has therefore just launched a new version of the 1000 franc note – worth 890 euros. In Singapore, there is even a $ 10,000 ($ 5,980) banknote, and since Brunei – that small sultanate who wants to recently homosexuals – is connected to the Singapore currency area, c & # 39; is a corresponding account of 10,000 ringgit.
However, the Czech Republic also has a 5,000 crown note, which is exactly 194.20 euros. If the value of the crown increased only slightly, this would be even more than the 200 euro banknote.
And by the way, there is also a sterling note with a higher value, and equal in a denomination of 100 million pounds. However, these invoices are not intended for normal payment transactions.
Rather, they are used by those private banks in Scotland and Northern Ireland who are allowed to issue their own notes. In return, they must deposit the equivalent in British pounds with the Bank of England, and for this they use these "titans", as invoices are called.
(dayToTranslate) Stocker-Frank (t) European Central Bank (ECB) (t) European Central Bank (ECB) (t) Money (t) Banknotes (t) Payments without cash (t) Federal Reserve (t) Federal Reserve (t ) England (t)) Bundesbank (t) banknotes (t) career (t) Northern Ireland (t) Scotland (t) Singapore (t) of the euro zone (t) Switzerland (t) Kuwait