Currency in Circulation The final component of our balance sheet I’d like to touch on is currency in circulation, coming back to our core role as the monopoly provider of legal tender in New Zealand. Many retailers chose contactless payment methods as a preference during the height of COVID-19, to reduce the amount of physical contact required to make payments.
19  Reserve Bank of New Zealand (2020d): Monetary Policy Statement August 2020. Ref #9122402 v2.12  16  However, in practice we have experienced the very opposite of a decline in cash.