Has currency in circulation reached a new normal?

With weekly additions slowing, it's likely that demand could be slackening

Over the past few months, there has been a steady decline in  weekly additions to currency in circulation (CIC). 

In the week ending May 26, the addition was a mere Rs 5,900 crore, down from roughly Rs 7,600 crore the week before. By comparison, in the week ending January 13, Rs 52,786 crore  was pumped into the system. 

The total of currency in circulation now stands at Rs 14.9 lakh crore, roughly Rs 3 lakh crore lower than the Rs 17.97 lakh crore  in circulation prior to demonetisation.

As additions to currency in circulation would invariably be a function of