Demand for cash: a global update
Antti Heinonen explores recent data on banknote demand and analyses its impact on cash infrastructure
The share of cash in payment transactions has had a decreasing trend during the last couple of decades, because of the constant innovation of new payment instruments. However, after the outbreak of the Covid-19 pandemic in 2020, the demand for banknotes experienced sudden exceptional growth globally. This happened irrespective of travel restrictions and lockdowns and increased online shopping, and was based on the great uncertainty felt by the public. Furthermore, at the time the opportunity
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