News

US Treasury turns out 566.6M banknotes in July

Though 90 percent of new bills replaced unfit notes, the remainder represent the continuing upward trend in terms of total cash in circulation.

August 31, 2015

The U.S. Bureau of Engraving and Printing produced 566.6 million new banknotes during the month of July, with a total value of nearly $19.7 billion.

According to a report by coinnews.net, these figures represent a slight drop in volume and value from the previous month (down 1.7 percent and 5.1 percent respectively), however, they are up considerably compared with the previous year (5.8 percent and 78.4 percent, respectively).

In its monthly report for July, the BEP said it printed 121.6 million $20 banknotes — the denomination most commonly used in ATMs — with a total value of $2.432 billion.

U.S. banknotes cost an average of 10 cents each to produce, and 90 percent of new notes printed are replacements for bills removed from circulation, coinnews said.