Rs. 2000 and Rs. 500 Currency Reckoned 87.9% In Circulation: According to the Reserve Bank of India’s (RBI), annual report 2022-2023, the highest value currency Rs. 2000 and Rs. 500 notes accounted for 87.9% of terms of value in the total circulation of the currency as of March 31, 2023. In the previous year, both currencies accounted for 87.1% as of March 31, 2022.
The report also states that the Rs. 500 denomination has achieved the highest share at 37.9% followed by the 10 rupees currency, which has accounted for 19.2% of the total circulation as of 31.03.2023. The coin circulation also increased by 8.1% in FY23. The coins of Rs. 1, Rs. 2, and Rs. 5 all constituted 83.1% of the total volume of the circulation; in terms of value, the coins are reckoned as 72.3%.
The report submitted by RBI also states about the Fake Indian Currency Notes (FICNs) detected by the banks. Among all the fake note counts, 100 rupee fake notes are detected and the count is 78,699 in 2022-23. Recently, RBI also withdraws the country’s highest-value currency as a part of currency regulation management.
