In a crisis, never underestimate the popularity of cash. The Reserve Bank’s (RBA) regular data series on banknotes shows Aussies seeking refuge in the sort of money that can’t be brought asunder by a blackout or a Chinese cyber attack. And when we turn to cash, we favour 50s. The $50 bill, known colloquially as the pineapple for its bright yellow colour, has been in hot demand this year, and the RBA’s note printing arm has churned out an additional $7.5 billion of them since the end of January.
Perhaps it’s just me, but whatever software is producing these graphs needs to be fired into the sun.
No reflection on the content. But the graphics are are utterly horrid.
It’s becoming impossible to get $5 or $10 notes out of an ATM. You are only offered combinations of $20 and $50. I would be happier with $10s.
Even the greenies are bulky in a wallet.
They are minnows compared to the £50 or €100.
I’m not sure that “we” favour 50s – it’s ATMs that tend to churn them out. And you can’t get 10s out of ATMs at all. Which probably accounts for their minus %, as people avoid tellers during Covid.
“In a crisis, never underestimate the popularity of cash.”
LOL, a few months ago Crikey was insisting that the writing was on the wall for cash, as no one was going to use it from now on, due to, err, the same crisis.