Wednesday
May 20
2020

Cash, Long a Refuge in Uncertain Times, Now Under Suspicion

By Zeina Karam

In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. But in this crisis, things are different. This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus, is a source of suspicion rather than reassurance.

No longer a thing to be shoved mindlessly into a pocket, tucked into a worn wallet or thrown casually on a kitchen counter, money’s status has changed during the virus era — perhaps irrevocably. The pandemic has also reawakened debate about the continued viability of what has been the physical lifeblood of global economies: paper money and coins.

Photo courtesy of indicpeace.

Source: AP News (link opens in a new window)

Categories
Coronavirus, Finance
Tags
cashless, coronavirus, emerging markets, financial health, financial services, fintech, LMICs, public health