MODEL ANSWER:
The proportion of yearly e-transactions and the circulated currency notes in a country between 2013 and 2018 is depicted in the charts.

At a glance, there an upward trend is seen both in the percentage of e-transactions as well as in currency circulation over this period.

The annual e- transaction rate recorded a ten-fold surge during this period from just 2.4 in 2013. Despite a growth slow growth rate from 2014 to 2015(1.3%) and from 2016 to 2017(2.5%), e-transactions saw sharp spikes throughout the period. The most significant hike was 5.3% between 2015 and 2016.

A significant leap is seen in the currency circulation too over the same period. This ranged from currency worth $13 billion in 2013 to $22.4 billion in 2018. Between 2013 and 2016, its growth was gradual ($3.6 billion), however in the very next year, it collapsed to $13.3 billion. The next couple of years witnessed a sharp rise in the currency circulation by around $9.1 billion.

Overall, it is clear that the increased percentage of e-transactions had no significant impact on the currency circulation over the given period.

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