Here’s a comparison of approximate banknote printing costs for major currencies
Cheapest per note: Low-denomination US and Indian notes are among the lowest in absolute cost. • Euro notes: Average around 10 euro cents, higher than the US $1 but still very low relative to face value.
US $1/$2 4.1 cents
US $100 11.3 cents
Indian 500 $2.29 (~2.7 US cents*) Recent Indian $200 2.37
Euro (average) ~10 euro cents
Euro €5 ~5 cents
Euro €100-€200 12-16 cents Higher UK £5 / £10 / £20 (polymer) ~7-8 pence Bank o Australian (average) ~32 Australian cents Note P Canadian polymer notes ~23-27 Canadian cents