The rumor about the abolition of 200-legged banknotes deduced 5 billion shekels out of circulation

As a result, the total cost of cash on the hands of the population decreased from September to January by 4.7%, and in total for 2024 increased by less than 2%, which is the smallest indicator since 2001, Globs notes.

The ratio of the number of 200-league banknotes to 100-legged decreased from 2.5 to 2.2.

The main reason for the withdrawal of 200-lean banknotes from the turnover was a rumor about the intention to cancel them as part of the fight against illegal capital.

According to the Israeli Bank, the banknotes of the largest denomination in the Shekele line are involved in monetary circulations significantly less banknotes of all other nominal nominalists, and are mainly used for accumulation and for large transactions in cash.

On September 19, 2024, Prime Minister Benjamin Netanyahu ordered that the Ministry of Finance, the Bank of Israel, the Ministry of Government, the Tax Administration and the headquarters of crime in the Arab sector, considered the possibility of withdrawing banknotes of 200 shekels.

This initiative was presented shortly before that the country’s economic leadership as part of proposals for combating organized crime and tax evasion.

Although two weeks later, the Israeli Bank issued a message according to which at the moment the issue of withdrawing banknot from the turnover of 200 shekels by the Central Bank is not considered, the population perceived the likelihood of such a development of events quite highly. In exchangers, for several weeks, the queues from the Israelis formed, who sought to exchange accumulated cash for currency as soon as possible. The number of cash investment operations on deposit accounts in banks has also increased.