31 December 2013

Use of new 10,000 kr. Banknote in 2013

10000 kr.

The new 10,000 kr. banknote launched on 24 October 2013 has been well received, and some 550,000 notes valued at about 5.5 b.kr. are now in circulation outside the Central Bank. As of year-end 2013, 10,000 kr. banknotes account for about 12.5 per cent of the value of all notes in circulation. About 44.2 b.kr. in banknotes are currently in circulation in Iceland, and circulating banknotes and coin combined are valued at 47 b.kr., an increase of 1.9 b.kr., or 4.2%, during the year.

The 10,000 kr. note was launched in order to facilitate and streamline payment intermediation in Iceland, in part by reducing the number of banknotes in circulation. This has been successful, as the number of 5,000 kr. notes in circulation has declined somewhat.

Further information can be obtained from Már Guðmundsson, Governor of the Central Bank of Iceland, at tel: +354 569 9600.


Press release no. 49/2013

31 December 2013