March 2000 - Note on cash holdings in SA during transition to year 2000
V V Mamba and J P van den Heever
Last Modified Date:
2020-10-01, 09:31 PM
Quarterly Bulletins > Articles and Notes
In many quarters predictions were made that the public’s demand for cash would rise excessively towards the end of 1999. It was generally expected that people would withdraw money from banks in order to protect themselves against the possible failure of banks’ computer systems at the time of the changeover to the Year 2000 (Y2K), and to have cash at hand during the many public holidays in the festive season. This note describes the actual changes in banknotes and coin in circulation in South Africa over the Y2K transition period.