Indian rupee notes beat US dollar bills and euros in circulation — here is how and why
- India has 176 billion banknotes in circulation — compared to 56 billion US dollar bills and 30 billion euro notes, per RBI data.
- The high count is because India's notes are lower-value — more notes are needed for the same value of transactions than in the US or Europe.
- Despite UPI's rapid growth, cash has not declined — rural areas, low-income groups and small businesses still rely heavily on physical money.
Source: firstpost.com
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