More cash this Christmas
Published: Wednesday | December 31, 2008
Despite the effects of a world economic crisis, the central bank reported there was just over $52 billion in circulation on Christmas Eve, the day that represents the climax for Christmas shopping.
This figure is an increase of approximately 4.4 per cent when compared with last year's circulation of $49.8 billion.
Leading up to Christmas, many retailers, small-business owners and vendors complained of slow sales and meagre profits.
However, the bank has attributed the increase in circulation to the reported increase in the use of debit and credit cards for commercial transactions.
The demand for currency also increased significantly during the week leading up to Christmas Day as public-sector salaries, including retroactive amounts, were disbursed.
