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Federal Reserve Bank of Chicago
Economic Perspectives
Against the tide—currency use among Latin American immigrants in Chicago
Carrie Jankowski
Richard D. Porter
Tara Rice
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.


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Carrie Jankowski & Richard D. Porter & Tara Rice, "Against the tide—currency use among Latin American immigrants in Chicago" , Federal Reserve Bank of Chicago, Economic Perspectives, issue Q II, pages 2-21, 2007.
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Keywords: Currency convertibility ; Emigrant remittances ; Emigrant remittances - Latin America ; Payment systems
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