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)
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
Q: Does this include coins? A: Yes, currency in circulation includes both paper money and coins held by the public.
Q: Why doesn't this include bank vault cash? A: Currency in circulation measures cash held by the public. Bank vault cash is part of bank reserves, not in circulation.
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