The Reserve Bank has released new research on the future of banknotes. Cash has fallen from 45% of all transactions 15 years ago to about 10 percent today. But the RBA says that between March 2020 and December 2022, the value of banknotes increased by 22 per cent to $19 billion, of which between 9 and 26 per cent are used for transactions. Five to nine percent is lost. Seven to eleven percent is used in the shadow economy. And 55 to 80 percent of all banknotes are hoarded, locally or abroad.
<!-- wp:html --><p>The Reserve Bank has released new research on the future of banknotes. Cash has fallen from 45% of all transactions 15 years ago to about 10 percent today. But the RBA says that between March 2020 and December 2022, the value of banknotes increased by 22 per cent to $19 billion, of which between 9 and 26 per cent are used for transactions. Five to nine percent is lost. Seven to eleven percent is used in the shadow economy. And 55 to 80 percent of all banknotes are hoarded, locally or abroad. </p><!-- /wp:html -->