site.btaCash in Circulation Reaches Lv 15,703.2 Mln by End of 2017

Sofia, February 7 (BTA) - At the end of December 2017, circulating currency reached 15,703.2 million leva, up by 1,550.3 million, or 10.95 per cent from the end of December 2016, the Bulgarian National Bank reported. During the previous one-year period (December 2015 - December 2016), the increase was lower in value terms (1,428.1 million leva) but higher in percentage terms (11.22 per cent).

Circulating currency comprises legal tender banknotes and regular-issue and commemorative coins issued after July 5, 1999 (including those withdrawn from circulation with no time restriction on exchange).

At the end of December 2017, the share of banknotes in the total value of circulating currency was 97.64 per cent, up by 0.01 percentage points from the end of September 2017.

The average value of a circulating banknote at the close of 2017 was 33.85 leva, up 0.18 leva for the last quarter of the year and 1.35 leva (4.17 per cent) from the end of December 2016, reflecting a faster growth of 50 and 100 leva banknotes in cash circulation and the gradual replacement of the 2 leva banknote by a coin of the same denomination.

By the end of December 2017, the share of regular-issue coins in the value of circulating currency was 2.31 per cent, down 0.01 percentage points from the end of the previous quarter. The average value of a circulating regular-issue coin at the close of 2017 was 0.16 leva, unchanged from the end of September and 0.01 leva higher than at the end of December 2016 as a result of the launch of the 2 leva coin.

The banknotes circulating by the end of December 2017 numbered 452.9 million, up by 15.7 million (3.60 per cent) from the end of September 2017. During the same period, the total value of the banknotes in circulation rose by 610.5 million leva (4.15 per cent), reaching 15,333.2 million leva by the end of December 2017.

The 20 leva banknote took up the largest share in the number of circulating banknotes at the end of 2017 (134.4 million notes or 29.67 per cent). The 5 leva banknote accounted for the smallest proportion of circulating banknotes (5.95 per cent).