According to the financial post, Canadians have been on a steady decline in using cash as debit cards and credits have been used more frequently. However, Bank of Canada Review states that Canadians have begun to increase the value of their bills used at a rate of 5% per year. This means that Canadians are using more and more of their larger bills!

I found this article interesting as the new $20 banknote has just been issued and I was wondering how Canadians are reacting to it. I’ve many heard stories about how these new bills melt in heat, and shrinks after being soaked and thrown into the dryer.

After reading this article, I see that Canadians have begun to use larger bills like the c-note. Partially due to inflation as the penny and nickel seem obsolete to daily purchases, I began to wonder how much of an impact the $20 bill will have. It’s no wonder why they leave the $10 bill last to print because it creates a far less of an impact in our daily lives than the c-note will.