Push Back Against the Mantra of Inevitable Cash Decline

Currency Research has published a report on the findings of a survey of 37 central banks across six continents to examine global cash usage trends and the long-term role of physical currency ¹. The report was initiated because the experiences of mature economies are shaping the cash narrative when, in fact, the rest of the world is seeing a very different situation.

The less-cash environment of the mature economies is leading them to claim that cash is going to be replaced, over time, by digital payments. The evidence of this research suggests a somewhat different picture. The work was commissioned and carried out in conjunction with the Bank of Ghana, the Central Bank of Kenya, the Bank of Namibia, and the South African Reserve Bank.