Against the tide—currency use among Latin American immigrants in Chicago

Jankowski, Carrie; Porter, Richard D.; Rice, Tara N.

Journal Article

Against the tide—currency use among Latin American immigrants in Chicago

Abstract: While the U.S. continues to transition away from cash toward electronic payment methods, some population segments continue to rely heavily on cash. In this study of foreign-born Latin Americans in Chicago, the authors find that the dramatic increase in the number of immigrants is supporting a growing demand for currency, notably in the $100 denomination.

Keywords: Currency convertibility; Emigrant remittances; Emigrant remittances - Latin America; Payment systems;