The number of coins and notes has increased significantly recently.
Corona has made cash even more popular with Austrians. Compared to 2020, the number of banknotes in circulation has increased by 6.5 percent to over 28 billion. Their total value: the gigantic 1,544 billion euros.
The number of coins increased by 220 million to 8.3 billion pieces (value 1.8 billion euros). Fear of supply problems, less spontaneous spending and zero interest on the account are the reasons.
In general, Austrians also prefer cash, 66 percent of usual purchases are paid in this way. “Cash is safe, even in the event of a power failure, anonymously, quickly and cheaply,” emphasizes Münze Österreich boss Gerhard Starsich. An information campaign and a referendum will soon underline the social importance of cash.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
