$100 bill best performer
22 July, 2015, 12:00 am
THE total currency in circulation grew by 12 per cent to $641.3million last year.
The Reserve Bank of Fiji (RBF) 2014 annual report stated the value of notes in circulation last year increased by 12.1 per cent to $593.2m.
It said the $100 banknote denomination recorded the highest growth of 27.2 per cent to $208.4m.
It added this was mainly attributed to its introduction in automated teller machines.
According to statistics provided by the central bank, the $10 banknote was the highest volume of notes in circulation.
In 2014, it highlighted that the value of coins in circulation increased by 10.6 per cent to $48.1m.
The $2 coin registered the highest growth of 24.5 per cent to $12.7m.
The increase, it said, was attributed to the normalisation in demand for the $2 coin.
The five cent coin accounted for the highest volume of coins in circulation.
In 2014, the cost of currency issued by the bank decreased significantly by 23.7 per cent to $2.9m.
Over the same period, it added the cost of notes issued decreased by 38.7 per cent in 2014 to $1.9m mainly because of the normalisation of demand for the flora and fauna notes while the cost of coins increased by 42.9 per cent to $1m mainly because of issuance of brand new $2 coins during the year.