The Bank of International Settlement said in the quarterly review: –
- “Some of the breathless commentary gives the impression that cash in the form of traditional notes and coins is going out of fashion fast,”
- “Despite all the technological improvements in payments in recent years, the use of good old-fashioned cash is still rising in most, though not all, advanced and emerging market economies.”
- “The resilience of cash as a social institution reminds us of the importance of understanding the economic functions of money, beyond just the innovations in technology,”
