More than a hundred uses of 100 dollar note in America doubled the currency of the notes

The most used note in America is the $100 note, which has now become a cause of trouble. The $100 note is the most used note in America. According to a report in the American press, now people have started worrying about the $100 note. It is so common that it is even a dwarf note of 1$. According to Federal Reserve data, the circulation of the $100 bill is set to double between 2012 and 2022. According to statistics, there were 8.6 billion $100 bills in circulation in 2012. In 2022 their number will increase to more than 18.5 billion. Despite all this, it is equally difficult to spend a $100 note. One reason for this is the increasing prevalence of fake notes. It has become so common that fake $100 notes are appearing in the market. Shopkeepers check these notes several times before accepting them. Now the situation is such that economists have appealed to reduce the printing of 100 dollar notes.

question on note

When you carry a $100 note, people start questioning you and the note. After the Covid pandemic, the trend of cash has reduced a bit. According to statistics, more than 60 percent of payments in America are made through debit or credit cards. And cash is still the third largest means of payment. Harvard University economist Kenneth Rogoff estimates that more than half of the $100 notes are still held abroad. Still, every American has an average of 55 $100 bills. There is a reason why such large currency notes are in circulation. Economists believe that the $100 bill remains in circulation longer than the $1 or $5 bill because people prefer to hold it rather than spend it.

People consider it a status symbol

According to Federal Reserve data, people use cash more for small purchases. Customers spent an average of $39 when paying with cash, compared to an average of $95 when paying by credit card. Economists also believe that the $100 bill forces people to spend less. Research shows that if someone has five $20 bills, they tend to spend more. But if the same person has a $100 note, he is saved from spending more. However, the purchasing power of $100 has declined significantly over the past decade. $100 today was worth $76 a decade ago. That is, the goods which could be bought for $76 a decade ago, now cost $100 to buy the same goods.