Currency held by German households
Currency held by German households stood at 522.3 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Household financial accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Household financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total financial assets | 9,489.9 | 9,518.4 | 9,364.3 | 9,235.9 | 9,090.9 | 9,072.1 | 8,927.9 | 8,769.8 | 8,639.4 | 8,435 | |
| Currency and deposits | 3,550 | 3,538.4 | 3,468.6 | 3,441.1 | 3,406.6 | 3,408 | 3,351.6 | 3,302.6 | 3,254 | 3,218.7 | |
| Currency | 522.3 | 516.1 | 502.2 | 490.7 | 477.7 | 473.5 | 461.7 | 453 | 447.4 | 444.3 |
Understanding currency held by German households
Physical legal tender held in notes and coins by the domestic household sector forms the sole content of this series. The scope excludes all claims against financial institutions, meaning checking accounts, electronic wallet balances, and digital payment account claims are omitted. Within the currency and deposits group, this row isolates physical cash in circulation from bank-held deposits, reflecting banknotes retained for daily payment transactions or private cash storage outside the banking system.
Cash holdings are derived through indirect macroeconomic estimations rather than direct institutional balance sheet reporting, because physical banknotes in circulation cannot be continuously observed at the household level. Seasonal swings are pronounced around holiday spending periods and travel seasons, creating noticeable surges in cash demand within individual quarters. Comparing figures against the same quarter of the prior year isolates structural shifts in cash demand from recurring intra-year payment patterns. Users should note that estimation methodology updates or revisions to cash circulation models can alter historical estimates without reflecting an abrupt shift in consumer cash behavior.
Frequently asked questions
- How are physical cash amounts held by households calculated?
- Household cash holdings are modeled based on total circulating legal tender after subtracting currency verified on the balance sheets of banks, firms, and the public sector.
- Does this series include digital money or payment balances?
- No, balances held in electronic wallets, digital payment applications, and bank accounts are classified under deposit categories rather than currency.
- Are foreign banknotes held by resident households captured?
- Foreign currency notes kept domestically are covered in principle within currency estimates, converted into common accounting units.