Coronavirus

Cash loses currency in covid era

Dan Brunskill
Thu, 11 Jun 2020

Cash loses currency in covid era
Dan Brunskill
Thu, 11 Jun 2020
The Reserve Bank poured more than half a billion of extra cash into circulation expecting an “unprecedented” demand for physical currency in the lead up to the national lockdown. While it appears that the central bank was preparing for serious disruption to the cash supply during a time of potentially heightened demand, the worst never arrived and many of those banknotes are just waiting to be returned once the pandemic ends. This process may be slowed by already-stretched national logistics networks.  In the week leading up to lockdown,...

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