Central bank currency department costs on the rise

Majority of central banks’ budgets have also increased over the past five years

Over 60% of central bank currency departments claim their costs have increased over the last five years, according to Central Banking’s Currency Benchmarks 2021. 

This is despite lower levels of cash usage across much of the developed world and greater outsourcing in the realm of banknote printing. 

Among 20 central banks that provided data on whether currency department costs have changed in the last five years, 65% said they have increased, 15% that they have decreased and 20% that they have

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