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High-value notes are an important store of value and remain in demand during crises, says Antti Heinonen
Every now and then the role of high-denomination banknotes is raised in negative sense by claiming their use for criminal and tax evasion purposes. This article will address an entirely opposite argument for the existence of high denominations, namely their role for precaution and as store of value under uncertainty. During recent times central banks have avoided several panics by being able to provide banknotes in response to their sudden exceptional demand in crises and great uncertainties.
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