The European Central Bank has decided to increase the total number of euro banknotes issued to banks before the beginning of next year to meet stronger-than-expected demand for low denomination notes.
The ECB said it would issue some 14.9 billion banknotes to banks before January 1, 2002, compared with 14.25 billion originally planned.
'This decision reflects a reassessment of the number of euro banknotes required before January 1, taking into account the banks' frontloading orders which is in several countries indicate a higher-than-expected demand for low value denomination banknotes, such as five and 10 euros,' it said.
