[Asia Economy Reporter Yoon Shin-won] As the novel coronavirus disease (COVID-19) spreads fear worldwide, recently, the People's Bank of China, the central bank, has been quarantining cash circulating in the market. Banknotes coming from places with a high risk of COVID-19 exposure such as hospitals, markets, and buses are to be disinfected and destroyed regardless of their condition, and some banknotes will be disinfected by high temperature or ultraviolet light and quarantined for 14 days before being circulated again.
These measures by China have raised concerns that COVID-19 might be transmitted through banknotes or coins. Is there actually a risk of infection?
According to a report by the American Financial Express, the World Health Organization (WHO) has assessed the possibility of COVID-19 transmission through banknotes, coins, or credit cards as "very low." While viruses and other germs can spread by adhering to surfaces, the likelihood is low.
However, experts believe that credit cards have a higher chance of transmitting COVID-19 than banknotes. According to the American daily USA Today, Dr. Susan Whittier, a clinical microbiologist at NewYork-Presbyterian Hospital affiliated with Columbia University Medical Center, said, "Banknotes are not effective vectors for respiratory viruses, but cards have a relatively higher possibility." This is because viruses tend to survive longer on hard surfaces like credit cards and coins than on fibrous or porous surfaces like banknotes.
Dr. Whittier explained, "If someone coughs and hands their credit card over the counter to another person, the possibility of transmission cannot be ruled out," adding, "Reducing contact with contaminated surfaces will also reduce the risk of viral infection."
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