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The New Daily
The New Daily
Business
Kaaren Morrissey

Banknote demand rising as Aussies hoard cash

Touchless payments might be on the rise, but Australians feel safer with a stash of cash. Photo: AAP

Demand for banknotes is rising as more Australians keep cash on hand for “precautionary” reasons rather than in the bank.

This is one of the key trends identified by the Reserve Bank of Australia in its 2021/22 annual report published late last week.

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