The Bank of England has announced that banknote demand for its notes is increasing. In an article released today, the Bank of England confirms that banknote demand is growing faster than nominal GDP. Banknotes with an estimated value of £62.6billion are thought to be in circulation, resulting in the equivalent of £1,000 in banknotes in…
In preparation for Songkran, the Bank of Thailand announces it has increased cash reserves to Bt470 billion (US$ 14.5 billion) to meet banknote demand. Songkran is a festival celebrating the traditional Thai New Year which is held in April. The Bank of Thailand anticipates that the demand for banknotes will increase during the festival. Dr…
It is known by many that Japan is a country which is very technically advanced. Cashless payments are commonly used in daily transactions and it would appear that Japan could be the ideal “Cashless Society”. Except it’s not. Total currency in circulation at the end of 2013 rose to Y90 trillion (US$860 billion) in Japan,…