$100 bill best performer

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.

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