There are more Bermuda dollar notes and coins in circulation this holiday season than at the same time last year.

Infact, there is $7 million more cash in circulation after the Bermuda Monetary Authority did the mathematics and concluded the Island would need $125.6 million of ready notes and cash compared to the $118.6 million available last Christmas.

The 5.86 percent increase in money in circulation should ensure that ATM machines, shops and residents don't run out of cash while the banks are closed.

Between the start of December and last Thursday the amount of notes and coins issued to the Island's banks by the monetary authority was $13 million, up from $9.2 million over the same period last year.

The BMA said in a statement: "Christmas is traditionally a period when the figure for notes and coin in circulation rises. This seasonal peak is normally reversed very quickly after the holiday."