Bank of Portugal destroys €950 million

Since the end of January last year the Bank of Portugal has destroyed €950 million in 500 euro banknotes.

in News · 29 Sep 2020, 09:50 · 3 Comments

This comes following the European Central Bank’s decision to put a gradual end to the circulation of that note and incinerate any.

Between 28 January 2019 and 15 September this year, 1,900,362 €500 banknotes that entered the vaults of the Bank of Portugal have quite literally gone up in smoke

More in News

More construction without “excessive supply” of housing needed

In News, Portugal, Property - 24 Apr 2024, 20:02

Portugal becoming British “Stag” hotspot

In News, Portugal, Tourism, United Kingdom - 24 Apr 2024, 19:05

Warning of “huge disruptions” on easyJet flights

In News, Portugal, Business, Tourism - 24 Apr 2024, 18:05

Comments

Is that the process of controlling inflation.
In Portugal today.

By Gnmareza from Other on 30 Sep 2020, 13:54

IT IS A WAY TO IMPROVE THE CASHLESS ECONOMY OF PORTUGAL AND OTHERWISE, A WAY TO UNDERMINE ECONOMIC ACTIVITIES, ESPECIALLY INTERNATIONAL ONES. MOST BUSINESSES ARE IN THE HANDS OF AFRICANS THAT HAVE DEPLETED FOREIGN RESERVES MAKING IT IMPOSSIBLE TO SECURE FOREIGN CURRENCIES THEREBY RESOLVING TO BLACK MARKETS WHICH INVOLVES PHYICAL CASH AT ALL POINT. IT IS ACTUALLY A TWO WAY PRINCIPLE. CHINA AND UAE ARE THE ONES GAINING COS THEY DON'T CARE WHAT COMES IN SINCE MONEY IS A GREAT FACTOR IN ECONOMIC ACTIVITIES.

By PRINCE TOCHUKWU AWODIKE from Lisbon on 30 Sep 2020, 17:45

Let Them Destroy All They Want...There I.e. Bank Of Portugal, Still Broke As F€ck...

By Sakamoto Saurez from Lisbon on 01 Oct 2020, 11:37