Europe

The UK “lost” £50bn banknotes

British MPs worried about the disappearance of cash in the country. More and more settlements are made by bank transfer, and the demand for banknotes is only increasing. Legislators calculated that £50 billion worth of paper money was thus “gone”. They asked the Bank of England to investigate accordingly, CNN reports.

In turn, the financiers replied that the money does not go anywhere. Most likely, the people of the United Kingdom keep them “in a stocking”. And the bank will not find out why citizens are doing this.

The number of banknotes in circulation in the in July reached a record high of 4.4 billion, totaling £76.5 billion. This is 4 times more than 20 years ago.



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