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Cash May Not Be King, but It’s Still Royalty

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other countries tracked, including the U.S., both cash demand and card payments have grown. Fed governor Lael Brainard said in December that “physical cash in circulation for the U.S. dollar continues to rise due to robust demand.””