The European Central Bank (ECB) has announced that the new €50 note, the fourth banknote in the Europa series, enters circulation today.

To combat the issue of counterfeit notes, the new €50 includes a portrait window near the top of the hologram which becomes transparent when looked at against the light. The window reveals a portrait of Europa, a figure from Greek mythology, which is visible on both sides of the note.

The same portrait is also visible in the watermark, alongside the emerald number, which displays an effect of the light moving up and down when the note is tilted. The note also includes raised print for the visually impaired.

Mario Draghi, president of the ECB, commented: “Even in this digital age, cash remains essential in our economy. A soon-to-be-published survey on cash use, carried out on behalf of the ECB, shows that over three-quarters of all payments at points-of-sale in the euro area are made in cash. In terms of transaction values, that’s slightly more than half.”

The €50 is the most widely used euro banknote denomination. With over 9 billion of them in circulation, they account for 46 per cent of all euro banknotes. The €50 banknotes of the first series will remain legal tender and continue to circulate alongside the new notes and will be gradually withdrawn from circulation.

New €100 and €200 banknotes are due to be launched at the beginning of 2019.

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