US Dollar Production Reverts to Pre-Pandemic Norms

The production of US banknotes for 2023 will likely be below that of the previous two years, according to the 2023 Federal Reserve order for currency published in early November.

Similar to the prior two years and unlike those from before then, the print order includes ranges of notes by denomination instead of specific totals. The production order for FY 2023 contains a range of 4.5-8.6 billion notes, valued at $166.5-190.5 billion.

The Federal Reserve order for FY 2022 was from 6.9-9.7 billion notes and that for FY 2021 from 7.5-9.6 billion notes.

Most of the banknotes produced for 2023 will be $1s and $100s, as in prior years. $20s barely appear in the newest order. The order also lacks $2 notes for the first time in three years.