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For UK it's 4% physical banknotes/coins [1]. I would assume it's about the same for all developed countries. Which is why sometimes "ATMs ran out of money" if t
by 323 4y ago
For UK it's 4% physical banknotes/coins [1]. I would assume it's about the same for all developed countries. Which is why sometimes "ATMs ran out of money" if there is a mismatch between physical demand and supply.
[1] https://www.bankofengland.co.uk/knowledgebank/what-is-money https://www.bankofengland.co.uk/knowledgebank/what-is-money
- scotty79 4y agoThanks! I think they didn't bother to say 4% of what. From what I can gather by comparing numbers it's 4% of M1. I think I found some kind of source data about this. https://www.bankofengland.co.uk/boeapps/database/fromshowcolumns.asp?Travel=NIxSTxTAxSUx&FromSeries=1&ToSeries=50&DAT=RNG&FD=1&FM=Jan&FY=2022&TD=15&TM=Jan&TY=2023&FNY=&CSVF=TT&html.x=167&html.y=11&C=VT&C=KLF&C=KLG&C=IRR&Filter=N https://www.bankofengland.co.uk/boeapps/database/fromshowcol... If I divide sum of all but the last column by sum of all columns I get (notes&coin)/M0 That's what I was after. Apparently it's around 10%. So only 10% of the most core money has physical form. The rest is just numbers in the computer.