Year-End Amount of BOJ Notes Hits Record High for 11th Year

Economy

Tokyo, Dec. 30 (Jiji Press)--The outstanding amount of Bank of Japan notes at the end of 2020 came to 118,328.2 billion yen, up from 112,741.8 billion yen a year before and hitting a record high for the 11th successive year, the BOJ said Wednesday.

A pile of 10,000-yen notes equivalent to the end-of-2020 amount would reach 1,183 kilometers, about three times the distance between the surface of Earth and the International Space Station.

Although cashless payments are rapidly spreading in Japan, people in the country continue to tend to like holding cash.

With interest rates remaining low, the amount of “mattress money,” or cash held at home, not deposited at banks, is believed to have increased.

The coronavirus epidemic is also seen encouraging people to increase their cash holdings.

[Copyright The Jiji Press, Ltd.]

Jiji Press