🇲🇿 🇧🇬 🇬🇧 The amount of cashMoney in physical form such as banknotes and coins. More circulating in Mozambique increased by 10% since the beginning of 2024. On June 16 2024, Mozambique introduced a new series of metical notes and coins, which will gradually replace those in circulation since 2006.
Cash in circulationThe value (or number of units) of the banknotes and coins in circulation within an economy. Cash in circulation is included in the M1 monetary aggregate and comprises only the banknotes and coins in circulation outside the Monetary Financial Institutions (MFI), as stated in the consolidated balance sheet of the MFIs, which means that the cash issued and held by the MFIs has been subtracted (“cash reserves”). Cash in circulation does not include the balance of the central bank’s own banknot... More in Bulgaria increased by 5.5% (BGN 1.616 billion) in 2024. By comparison, in 2023, moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More in circulation increased by 7.4%, or BGN 2.036 billion.
In the UK, cash use rose for the third year running in 2024, as shoppers use it to help them budget reports the Guardian. The Post Office revealed that £1bn had been withdrawn in cash at post offices in December – the first time on record that this has happened in a single month.
🇮🇳 An excellent article in Eurasia Review by Vijay Kidambi reveals how India appears to have halted its move towards a cashless society—a positive development for the vast majority of the population and its growing economy. “But how can trust be fully restored in its currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More? A political commitment to safeguarding physical currency is one thing, but technical and technological measures are also essential to thwart counterfeiters, which have been targeting the country given its growing stature in the global economy. This threat can be countered through an innovation capacity notably fuelled by companies specialized in currency production.” argues Kidambi
“India is redefining its approach to financial systems by shifting away from an exclusively cashless policy, because it was realised that financial inclusionA process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products. While it is recognised that not all individuals need or want financial services, the goal of financial inclusion is to remove all barriers, both supply side and demand side. Supply side barriers stem from financial institutions themselves. They often indicate poor financial infrastructure, and include lack of ne... More cannot be achieved in a fully digitalised economy.” adds Kidambi. In a 2021 speech, former Reserve BankSee Central bank. More of India (RBI) Governor Shaktikanta Das highlighted that “financial inclusion is a key driver of sustained and balanced economic growth which helps reduce income inequality and poverty.” His statement underscores the necessity of accessible financial services, including cash, for comprehensive economic participation. While digital payments surged in the wake of demonetisationSee Demonetised banknote. More and subsequent government initiatives, this renewed focus on physical currency holds profound implications for the country’s economy and its people. For a nation often described as a “state-continent,” this decision reflects both practicality and inclusivity, addressing the needs of its diverse population while securing economic stability.