Currency Outside of Banks
X09COB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,615.00
Year-over-Year Change
95.55%
Date Range
1/1/1892 - 7/1/1941
Summary
The 'Currency Outside of Banks' trend measures the total value of U.S. dollar bills and coins held by the public, excluding banks and the Federal Reserve. It provides insights into currency demand and usage patterns.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Currency Outside of Banks' series represents the value of physical U.S. currency, including Federal Reserve notes and coin, that is circulating in the public and held outside of depository institutions. This metric is a key indicator of cash usage and liquidity in the economy.
Methodology
The Federal Reserve collects and calculates this data based on its balance sheet and measures of the money supply.
Historical Context
Policymakers and economists use this trend to analyze consumer behavior, market demand, and the velocity of money.
Key Facts
- Currency outside of banks reached a record high of $2.13 trillion in January 2023.
- The value of currency outside banks has more than doubled since 2007.
- Cash holdings spiked during the COVID-19 pandemic as consumers sought liquidity.
FAQs
Q: What does this economic trend measure?
A: The 'Currency Outside of Banks' trend measures the total value of U.S. dollar bills and coins held by the public, excluding banks and the Federal Reserve.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer cash usage patterns and overall liquidity in the economy, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The Federal Reserve collects and calculates this data based on its balance sheet and measures of the money supply.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze consumer behavior, market demand, and the velocity of money, which informs monetary policy decisions.
Q: Are there update delays or limitations?
A: The Federal Reserve releases this data on a monthly basis with minimal delays, providing timely insights into currency demand.
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Citation
U.S. Federal Reserve, Currency Outside of Banks (X09COB), retrieved from FRED.