Sign in or sign up. Search Submit Search. How it works Which EU body? Make a request Browse requests Blog. Inquiry - how many euro exist Khanna Sun Tzu made this access to documents request to European Central Bank This request has been closed to new correspondence from the public body. Khanna Sun Tzu July 02, Delivered. Yours faithfully, Khannea S. Dirven [ email address ]. Link to this Report.
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Single Accounts Corporate Solutions Universities. Premium statistics. Read more. The amount of cash in circulation has increased in the last five years for all currency denominations.
The total of fifty euro bills amounted to The euro bills summed to around billion euros, though they have not been issued by most Eurozone central banks since January The European Central Bank has the exclusive right to authorize the issuance of euro banknotes. Some countries are part of the Single Euro Payments Area. In this area, bank transfers of the euro are simplified.
These nations are:. Countries That Use The Euro Show Source. Rank Country Population Germany 83,, France 65,, Italy 60,, Spain 46,, Netherlands 17,, Belgium 11,, Greece 10,, Portugal 10,, Austria 9,, Finland 5,, Slovakia 5,, Ireland 4,, Lithuania 2,, Slovenia 2,, Latvia 1,, Estonia 1,, Cyprus 1,, Luxembourg , Malta , Euroland will be a much more closed economy than its pre-EMU members, since their mutual trade will become internal.
It follows that policymakers will be less concerned about fluctuations in the foreign exchange value of the euro than officials in the individual countries were about their pre-EMU exchange rates. In other words, the attitude toward the exchange rates of the euro will be more like that of American officials. The euro will float in relation to the dollar, the yen, and other currencies not pegged to it.
Whether the euro will tend to appreciate or depreciate in relation to the dollar in the early stages is quite unpredictable. In the United States, the basic short-term rate—the Federal finds rate—was about 4. That alone would point to some appreciation of the dollar in relation to the euro. Apart from other influences, that would tend to lead to some depreciation of the dollar. But there are other influences: the growing current-account deficit of the United States has not depressed the dollar in the past year, given the high mobility of private capital that easily financed the deficit.
It is fairly safe to predict that the dollar-euro exchange rate will not move by a large amount in early unless, as is discussed below, large shifts occur in the dollar balances of official and private holders around the world. The yen could move in relation to both the euro and the dollar, as it has in the past year.
The dollar has for many years been the dominant reserve currency, the currency in which countries around the world hold their foreign exchange reserves. The deutsche mark accounted for Are countries likely to shift their official reserves out of dollars into euros? Those countries that link their exchange rates to European currencies—by a currency board, a fixed or crawling peg, or a managed float—probably already hold deutsche marks or other European currencies in their reserves.
That applies mainly to countries in Eastern Europe, most of which link their currencies to the deutsche mark since much of their trade is with Germany.
They will very likely hold their reserves mainly in euros. How rapidly, if at all, will other countries switch their reserves to the euro? Of those that peg their exchange rates, most do so to the dollar or to a basket of currencies in which the dollar is dominant.
They are unlikely to switch on a large scale. Furthermore, most Latin American and Asian countries have closer trade relations with the United States than with Europe.
They are likely to stick to the dollar, but they could gradually diversify their reserve holdings. What can be said with some assurance is that if switches of reserves from dollars to euros do occur, the process will be gradual.
Central banks around the world would certainly avoid large sales of dollars and purchases of euros, since that would tend to lower the value of their remaining dollar holdings. Is the euro likely to be acquired by countries with growing reserves? It is worth noting that a currency can take on an increasing role as a reserve currency only if its issuer incurs an overall balance of payments deficit. In other words, if holdings of a reserve currency are to increase, there must be a supply as well as a demand for it.
The United States has demonstrated that principle over the years either by running a current-account deficit, as in recent times, or by having an excess of capital outflows over its current-account surplus, as in the s and s.
At present, euroland has a sizable current-account surplus.
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