Currency In Circulation Rises In Value, Volume In FY23, Says RBI's Annual Report
ABP NewsThe Reserve Bank of India's annual report said that the value and volume of currency in circulation rose by 7.8 per cent and 4.4 per cent, respectively, during the financial year 2022-23 as compared with 9.9 per cent and 5.0 per cent, respectively, during 2021-22. The circulation of Rs 2,000 banknotes showed a total value of Rs 3.62 lakh crore, constituting only 10.8 per cent of notes in circulation on March 31, 2022. In terms of the number of notes, the circulation of Rs 2,000 notes decreased to 1.3 per cent of the total currency in circulation, compared to 1.6 per cent in the previous year. Similarly, in terms of value, the share of Rs 2,000 notes also declined to 10.8 per cent from 13.8 per cent at the end of March 2022. The report said that compared to 2021-22, there was an increase of 8.4 per cent and 14.4 per cent in the counterfeit notes detected in the denominations of Rs 20 and Rs 500, respectively.