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Say goodbye to the 500 euro bills starting on Sunday


Say goodbye to the 500 euro bills starting on Sunday

According to the European Central Bank (ECB), banknotes of 500 euros will start to be collected as early as this Sunday and will also be issued in some euro countries, with the exception of Austria and Germany for “logistical reasons” and “In order to ensure a smooth transition”.

The German and Austrian central banks will continue to issue these notes until April 26, 2019 inclusive.

It is already as of this Sunday that 17 of the 19 national central banks of the euro zone stop issuing notes of 500 euros. These notes will be collected and destroyed, however, they will retain their value for an unlimited period.

The ECB points out that the “procedure is in all likelihood similar to what has been happening with respect to the first euro banknotes (EUR 5 to EUR 50) which have already been replaced by the Euro banknotes, with the only difference that there will be no a 500 euro note from the Europa series “.

Asked about the number of notes circulating effectively in Portugal, the Bank of Portugal replied that “it is not possible to know”. It is known, however, that on December 31, 2018, there were around 521 million notes of 500 euros, worth more than 260 billion euros, according to data from the ECB.

Like all other denominations of euro banknotes, the 500 euro note will always retain its value and may be exchanged in the national central banks of the euro area for an unlimited period.

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