The Reality of Cash Discussed at the Global Currency Forum

Nearly 440 people gathered at a resort hotel in Antalya, Türkiye, at the end of April for the Global Currency Forum (GCF), organised by the International Currency Association (ICA).

The event comprised a day of workshops focusing on safeguarding the cash cycle, sustainability and cash promotion, followed by two and a half days of plenary and innovation sessions.

With session titles such as The Value of Cash – Global Evidence and Strategic Arguments, Reframing Cash – Perception, Innovation and Communications, Cash Cycle Resilience and Affordability in Transitioning Markets, Crisis Proof Payments: Why Cash Matters, and Cash as a Positive Value in a Modern Society, it would be easy to assume the GCF focused on defending a cash market under pressure.

However, nine of the 15 central banks speaking in plenary sessions reported strong growth in cash volumes across all denominations, not just store-of-value notes. The reality of sustained cash demand was evident throughout the discussions.