Central Bank of Estonia reports Q1 2025 cash issuance and surge in one and two-cent coin returns after rounding rule

The Central Bank of Estonia published first-quarter 2025 cash circulation statistics, showing 6.4 million banknotes issued into circulation worth EUR 213 million and 1.5 million coins worth EUR 1.6 million, alongside a sharp rise in coins returned from circulation linked to the rounding rule that took effect on 1 January. The most commonly issued banknote was the EUR 50 note, accounting for half of banknotes issued, while the most commonly issued coin was the EUR 2 coin, also representing half of coins issued; one and two-cent coins were no longer issued into circulation. In the quarter, 5.8 million banknotes worth EUR 200 million were returned to the central bank, with EUR 50 notes making up 40% of returns; 2.2 million unfit banknotes were destroyed and the remainder returned to circulation. Commercial banks returned 14.2 million circulation coins worth EUR 1.9 million, more than twice the previous quarter, with one-cent coins representing 40% of coin returns and one and two-cent coins making up three quarters of all coins returned; Eesti Pank supplied returned small coins to the Latvian central bank in exchange for an equivalent supply of EUR 2 coins. Cash withdrawals from ATMs totalled EUR 836 million across 4.8 million transactions and ATM cash deposits totalled EUR 439.8 million, both about 7% lower than a year earlier; Estonia had 664 ATMs at quarter-end, including 223 that accept deposits. Eesti Pank also reported 229 kroon-to-euro exchange transactions worth EUR 41,300 and estimated unreturned kroons at EUR 43.6 million, while the Estonian Forensic Science Institute registered 148 counterfeit euro banknotes and 25 counterfeit coins in the quarter.