Most central banks are responsible for the production and issuance of their jurisdiction’s banknotes, and oversee many of the payments systems banks and members of the public use every day. Globally, while cash continues to place a key role in many economies, in many regions there has been a gradual decline in transactional cash usage, along with a shift towards other payment methods.

As a result, currency managers have been redefining their role within the cash cycle. Questions around