DNB Becomes Net Issuer of Banknotes

A recent article by the Dutch National Bank (DNB) explained that, as a consequence of the pandemic, its intake of banknotes has fallen to the extent that it is now issuing more euro banknotes than it is getting back in, a first since it started issuing them. The number of notes issued fell by 10% in 2020 but the number of notes received fell by more, by 25%.

The DNB believes there are three reasons for this. Firstly, tourism. In normal times the Netherlands hosts a large number of tourists, who use a great deal of cash. As a result, the DNB receives significant numbers of banknotes that had originally been issued by other euro countries. In the pandemic tourism has fallen by 65%.