Original article by James Eyers
The Australian Financial Review – Page: 17 & 20 : 17-Nov-21

Data from the Reserve Bank of Australia shows that $50 and $100 banknotes now comprise 73 per cent of banknotes in circulation, and 94 per cent by value. The RBA adds that demand for lower-value banknotes has been ‘subdued’ during the COVID-19 pandemic. The total value of Australian banknotes in circulation has risen to nearly $100bn since the start of the pandemic, and the RBA estimates that Australians are storing between $50bn and $75bn of this amount in cash rather than in financial institutions. The RBA concedes that low interest rates may be a key driver of this "hoarding". The trend may also reflect the strength of the black economy.

CORPORATES
RESERVE BANK OF AUSTRALIA