San Francisco Fed study: cash is not dead yet

Currency and finance news

Reports of the death of cash have been “greatly exaggerated”, according to a recent study by the Federal Reserve Bank of San Francisco.

Using currency in circulation as a proxy for cash use, the study examines the growth rate of CIC in 42 economies between 2006 and 2016.

“It may come as a surprise that, despite the explosion of technology in the payments sector, over the past 10 years, CIC grew faster than GDP in most countries,” say authors John Williams and Claire Wang. For Mexico and Korea,

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