SINGAPORE (Aug 6): In recent years, cash seems to have gained rather than lost its appeal. At end-May, currency in active circulation, meaning the amount of notes and coins not held in banks, stood at $44 billion, or roughly 38% of GDP. A decade ago, it was $19.5 billion, or roughly 30% of GDP.

Where does this leave efforts to make Singapore a cashless society? Both the government and the private sector have pushed consumers and businesses towards electronic transactions, advocating its ease and efficiency.

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