Currency Benchmarks 2022 report – executive summary
Cash far from extinct and volumes continue to grow in many places
The Currency Benchmarks 2022 suggest that the world of cash is changing, albeit slowly. Among the sample of 33 central banks, many respondents expected increasing demand for banknotes. Data suggested the decline of cash as a payment medium is slow where it is happening at all.
The central banks contacted in this year’s benchmarks reported that they operated in diverse ways amid diverse contexts. Their jurisdictions varied widely in size and wealth and demonstrated large differences in cash
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Data hints cash is slowly changing from payment method to store of value
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High income jurisdictions remove notes with the highest average value
Banknote recycling remains limited at most central banks
Just a few institutions track carbon footprints of banknotes
Banknotes rarely portray current monarchs or presidents
Central banks favour other historical figures, but few institutions feature people from minority groups
Covid-19 impact on cash demand minimal in past year
Majority of currency departments relax pandemic countermeasures
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De La Rue is most commonly used printer among respondents
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Minority of institutions use big data for forecasting purposes
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