Experiment shows cutting storage costs boosts local currency use over dollars
The article explores ways to reduce the use of foreign currency in small economies after economic crises. The researchers tested two methods: taxing foreign currency transactions and lowering the costs of using local currency. They found that reducing storage costs for local currency was more effective in encouraging people to use it instead of foreign currency. This change led to a significant decrease in foreign currency acceptance and a notable increase in local currency usage for domestic transactions.