Still, according to the same survey, a third of all euro banknotes are used for transaction purposes and 20 to 25% are held abroad. That leaves a bit less than half as store of value in the eurozone but not circulating. There are also subtler differences beyond the use of banknotes with a high face value.
Central Bank confirms that currency exchange services remain in place. 13 September 2022 Press Release. The Central Bank of Ireland has today (13 September 2022) confirmed that it continues to exchange old Irish pound notes or coins for euro and has no plans to withdraw this service. Director of Currency at the Central Bank Bernard Sheridan said:
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