Reserve Bank of Australia Annual Report – 1960 Note Issue Department

Notes in circulation showed a net increase over 1959/60 of £27 million, to £419 million. This was the largest rise both absolutely and proportionately since 1952/53 and reflected the increased transaction needs of the economy, largely due to the substantial rise in personal consumption expenditure.

The following figures show how the note circulation has increased in recent years, and how the larger denomination notes have continued to gain in popularity.