Cash in circulation to remain elevated, Bank of Canada research says

Canadian dollar notes
KMR Photography

The value of Canadian banknotes in circulation is likely to remain elevated despite the easing of pandemic restrictions, Bank of Canada research finds.

Cash in circulation increased from C$83 billion ($65.6 billion) before the Covid-19 pandemic to more than C$96 billion in September 2020, says a working paper.

Using data from the country’s banknote distribution system and two public surveys, Heng Chen et al analyse how the Covid-19 pandemic affected demand and usage of cash between March and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: