Currency In Circulation
Returns the total amount of U.S. currency (paper money and coins) held by the public, sourced from the Federal Reserve.
Data Source
Federal Reserve Statistical Release H.4.1 - Factors Affecting Reserve Balances.
Usage Notes
- No parameters required
- Returns value in billions of dollars
- Data updated weekly
- Excludes currency held by banks and the Fed
Monetary Aggregates Hierarchy
| Aggregate | Components |
|---|---|
| Currency | Physical cash held by public |
| M1 | Currency + checking deposits |
| M2 | M1 + savings, time deposits, money markets |
Currency Trends
Currency demand typically increases:
- During holidays (retail spending)
- During crises (flight to safety)
- In lower-income economies (cash preference)
Syntax
=CurrencyInCirculation()Returns
number
Currency in circulation in billions of dollars
Examples
Currency in circulation (billions)
When to Use
- Analyzing physical money demand
- Monetary policy research
- Cash economy analysis
- Building monetary dashboards
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need total money supply | MoneySupplyM1() or MoneySupplyM2() |
| Need bank reserves | BankReserves() |
| Need monetary base | MonetaryBase() |
Common Issues & FAQ
Does this include coins?
Yes, currency in circulation includes both paper money and coins held by the public.
Why doesn't this include bank vault cash?
Currency in circulation measures cash held by the public. Bank vault cash is part of bank reserves, not in circulation.
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