[4] However, despite the significant drop in the use of cash for payments, we have seen a parallel, huge rise in the demand for euro banknotes over the past year: an increase of € billion – or € per capita – between March 2020 and May 2021.
Amando M Tetangco, Jr: Capital market - a cornerstone of BSP financial reform agenda Speech by Mr Amando M Tetangco, Governor of the Central Bank of the Philippines, to the Investment House Association of the Philippines (IHAP), Manila, 23 August 2005.