Recently, a rumor has been circulating online that the 50 euro banknote will no longer be in circulation.
However, both the Bank of Spain and the European Central Bank have denied these claims.
“Neither the Bank of Spain nor any other Central Bank within the Eurozone has ordered the withdrawal of any euro banknote or coin. All euro banknotes retain their value and remain in circulation,” emphasized the ECB.
The Bank of Spain clarified the source of confusion regarding the 50 euro banknote. It systematically monitors the authenticity and quality of banknotes returned by credit institutions. Euro banknotes and coins that are considered unfit for circulation are withdrawn, destroyed, and replaced with new ones, while those in good condition are reissued into circulation.
The Bank of Spain emphasized that this procedure applies to all denominations, not just the 50 euro banknote. It also clarified that even if a banknote is damaged, it does not lose its value and can be exchanged for a new one.
“One reason we try to keep banknotes in good condition is to make it easier to check their security features. While banknotes are designed to last, they typically show signs of wear and tear over time due to usage,” the Bank of Spain concluded.