Return rate of 50,000 won note hits all-time low amid pandemic
- 3 years ago
5만원권은 어디로?...한은 "코로나로 대면 소비 줄어든 탓"
The return rate of South Korea's 50-thousand won note hit an all-time low during the first ten months of 2020.
The Bank of Korea said Monday that only slightly over a quarter of the notes issued during this period were returned to the bank.
That's down almost 40 percentage-points on-year.
The central bank said the pandemic has prompted people to shop online rather than spending cash.
People are also apparently stockpiling more cash due to the pandemic.
The return rate of South Korea's 50-thousand won note hit an all-time low during the first ten months of 2020.
The Bank of Korea said Monday that only slightly over a quarter of the notes issued during this period were returned to the bank.
That's down almost 40 percentage-points on-year.
The central bank said the pandemic has prompted people to shop online rather than spending cash.
People are also apparently stockpiling more cash due to the pandemic.