The Governing Council of the European Central Bank has decided to stop further printing of the 500 euro banknote. All other denominations will remain in place. Existing 500 euro banknotes will remain legal tender and can continue to be used as a means of payment in stores, the European Central Bank announced.
This banknote will be phased out in 2018, the European Central Bank announced. Until then, it will be replaced by new euro banknotes of 200 and 100 euros. However, it will retain its value and will never expire for exchange for other banknotes. This is characteristic of the euro, while delays are possible for all other national currencies, which are periodically changed.
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