Cash

Lets go through how cash works in Australia

Money has value because people trust that it has value today and will continue having value in the future.

Currency is a physical form of money, while deposits held in accounts with a financial institution are a digital form of money and comprise the greatest share of money in a modern economy[1]

Photo by Melissa Walker Horn on Unsplash

100 Trillion dollar note : Reserve Bank of Zimbabwe, Public domain, via Wikimedia Commons

The Australian Cash Distribution & Exchange System (ACDES) provides rules for the exchange and distribution of wholesale cash.

ACDES members own and manage their own cash reserves. Working closely with the Reserve Bank of Australia and the Royal Australian Mint, they largely supply the community with the notes and coins needed to carry out daily economic activity.