Round Up on Coins and Numismatics from Central Bank Annual Reports

In this article, we summarise the information from central bank reports on circulating and commemorative coins and numismatic programmes.

Coin Supply Increases

Bank of Uganda – cash in circulation grew by 487 billion Ugandan shillings, or UGX, (7.1%) from UGX 6.8 trillion in FY 2021/22 to UGX 7.3 trillion in 2022/23. The net value of banknotes in circulation increased by UGX 477 billion, from UGX 6.6 trillion in June 2022 to UGX 7.1 trillion in June 2023, while that of coins increased by UGX 9.9 billion.

Bank of Russia – to provide a higher velocity of coin circulation, the Bank has introduced the Coin Platform – an information service supporting the direct communication between banks and merchants regarding the delivery of coins to each other. In 2022, the number of regions where the Coin Platform was operating increased from 14 to 21, and the number of participants increased from 198 to 277. The Platform’s turnover increased by 55.1% over the year.