By Kristjan Lember, cash analyst.
Eesti Pank issued 11.5 million banknotes into circulation in the second quarter of 2026 with a total value of 357.8 million euros, and 3.7 million coins with a total value of 3.1 million euros.
The banknote issued most commonly was the 50-euro note, which accounted for 45% of the banknotes issued. The most common coin was the two-euro coin, which was 32% of the coins issued into circulation.
The amount of cash issued was 39% more than in the previous quarter. It is to be expected that more cash is issued in the second quarter than in the first, because demand for cash is generally lower in the first months of the year after the holiday season. Cash becomes more necessary in the second quarter, as that period covers a part of the summer holiday season and numerous leisure and entertainment events.
The figures illustrate banknotes and coins issued in the first and second quarters over the years.
There were 7.5 million banknotes with a total value of 238.2 million euros returned to Eesti Pank in the second quarter. The banknote encountered most commonly among those returned at 40% of the total was the 50-euro note. The total number of banknotes returned was 19% higher than in the first quarter. The cash sorting process saw the destruction of 0.95 million banknotes that were unfit for circulation, and the rest were returned to circulation.
The commercial banks returned 2.5 million circulation coins with a total value of 0.67 million euros to Eesti Pank in the second quarter. The coin returned most often was the two-cent coin at 32% of the total. There were 17% fewer coins returned than in the previous quarter.
Cash was withdrawn from ATMs on 5.1 million occasions in the second quarter, for a total value of 922 million euros. There were about 10% fewer withdrawals of cash than in the same period of last year. Cash deposits of 459 million euros were made in ATMs in the second quarter, which was 5% less than a year previously.
There were 668 ATMs in Estonia at the end of the second quarter, of which 227 accept cash depositing. Cash transactions could be made at 17 bank offices, and there are some 700 shop tills across Estonia from which cash can be withdrawn.
Exchanging Estonian kroons for cash
Eesti Pank continues to exchange Estonian kroons in notes and coins for euros. The Eesti Pank Museum is typically asked to exchange kroons three or four times a day. There were 184 exchange transactions with kroons in the second quarter of this year at a value of 22,300 euros. There are still an estimated 28.4 million kroon banknotes, worth 36.6 million euros, and 319.3 million coins, worth 6.7 million euros, that have not been returned from circulation, making a total value of 43.3 million euros. Interest in exchanging kroons for euros has declined over the years.
Eesti Pank expert analysis of cash
Eesti Pank exchanges damaged euro banknotes and coins. Expert analysis of cash was carried out 54 times in the second quarter as 2230 banknotes were examined for authenticity.
The Estonian Forensic Science Institute registered 45 counterfeit euro banknotes in Estonia in the second quarter, the majority of which were 20 and 50-euro notes. There were also 26 counterfeit coins discovered in the quarter. Eesti Pank recommends that all businesses and people that use cash should be careful and attentive when handling banknotes. It is also wise to be careful when paying in cash while travelling abroad.
- Estonian kroon banknotes and coins can be exchanged for euros at the shop of the Eesti Pank Museum during its opening hours from Tuesdays to Fridays 12.00-17.00 and Saturdays 11.00-16.00.
- Damaged banknotes can be submitted for expert analysis by contacting a bank or the Eesti Pank museum shop.
Source: eestipank.ee
