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The phrase "volume of banknotes" is correct and usable in written English.
It can be used when discussing the physical amount or quantity of banknotes, often in the context of finance or currency. Example: "The central bank reported an increase in the volume of banknotes in circulation this quarter."
Exact(1)
"They would have no power to impound the notes, but they would inform the Inland Revenue and the police of any suspiciously large volume of banknotes which they detected.
Similar(59)
The ECB issues 8% of the total value of banknotes issued by the Eurosystem.
The banks promptly ran out of banknotes.
The gap between the printing cost of banknotes and their face value is called seigniorage.
A huge amount of business is transacted in the "black" economy, in stapled wads of banknotes.
Serb, Croat and Bosnian Muslim representatives spent eight months arguing about the design of banknotes.
The colour of the grass and the paper is also the colour of banknotes.
Dip into Binion's Casino to see the stack of banknotes totalling $1m.
A counterfeiter of banknotes cannot spell and renders the first American president as "Wahsington".
Zimbabweans have become used to dealing in "bricks", as piles of banknotes worth Z$10m are known.
The company engages in the implementation of monetary policies and circulation of banknotes.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com