Currency: Time for Change?
Despite the increasing usage of credit and debit cards and the emergence of various electronic payment instruments, currency remains king—at least if that title is based on volume of transactions. Maintaining the quality of Federal Reserve notes in circulation represents the single largest expenditure by Reserve Banks: Roughly $700 million a year is spent to buy new notes from the Bureau of Engraving and Printing and to process, store, and distribute notes.
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