Norges Bank has issued a clear recommendation for Norwegian households to maintain a supply of physical cash at home, citing the importance of having a payment method that functions independently of digital infrastructure.
Torbjørn Hægeland, the central bank's director for financial stability, emphasized that the appropriate amount of cash depends on individual household needs and existing stockpiles of essential goods.
The guidance underscores a broader focus on financial resilience and the potential vulnerabilities of a highly digitized payment system.
The advice aligns with a growing global trend among central banks to diversify reserves and ensure liquidity options remain available during periods of geopolitical or technical stress.
While digital payments dominate daily transactions in Norway, the central bank views physical currency as a critical backstop for emergency situations.
This recommendation comes as global central banks increasingly prioritize the security and accessibility of their monetary systems.