Less reliance on cash

BARBADIANS are reducing their dependence on cash.

The Central Bank of Barbados says that based on the amount of currency in circulation, the public is increasing the use of other payment methods.

This information is shared in the monetary authority’s 2024 annual report.

“During 2024, currency in circulation reached $1.12 billion, with banknotes in circulation growing by $27.7 million to $1.04 billion and coins in circulation growing by $2.6 million to $77 million,” the institution said.