Canadians have been turning to cash following the coronavirus outbreak, highlighting the fact that cash is the most trusted means of payment.
According to the Bank of Canada’s latest publication, notes in circulation have “increased significantly in March and April 2020 compared with the same two months in the previous five years.” The findings follow reports that Americans are finding comfort in cash, Mexico’s cash withdrawals have soared, and Europe has seen “the biggest jump in the amount of cash in circulation in the eurozone” since October 2008 due to the covid-19 crisis.
