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$100 bills in circulation soar to a record, hinting at rise in global criminal activity
Demand for high-denomination U.S. bills is not slowing down, despite less demand for cash in general. The amount of U.S. $100 bills across the globe in circulation hit its highest level in history last year, according to new data from the Federal Reserve released this week. That total grew by about 7 percent, or $92 billion year over year, to a record $1.3 trillion worth. The number of outstanding C-notes has doubled since the financial crisis, according to the Fed. But it's probably not due to real demand to spend those large bills. Growth in U.S. bills between $1 and $20 was much weaker at about 2.6 percent year ... (full story)
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