Reserve Bank Says Cash Orders Have Plunged by Two-Thirds in 3 Years

Commercial bank cash orders declined two-thirds and cash payments halved over three years to 2022, according to the RBA.

This photo illustration shows three Australian banknotes taken in Melbourne, Australia on Oct. 12, 2020. William West/AFP via Getty Images

Commercial bank cash orders declined during the 2022/23 financial year, with the Reserve Bank of Australia (RBA) issuing just one-third of a typical year’s amount, according to its 2023 annual report (pdf).

The RBA, a wholesale banknote distributor, issued a considerable decrease of around $3.1 billion in banknotes during the year.