Cup Match -- but officials said the increase was not as high as usual.

The long holiday traditionally sees Bermuda dollar notes and coins in circulation greatly increase, but Bermuda Monetary Authority (BMA) officials said the percentage increase was reduced due to the introduction of a scheme that keeps supplies of Bermuda dollar currency in the banks.

The BMA said yesterday the scheme has greatly assisted the banks in managing the public's needs more precisely.

It also enabled the BMA to assess the exact amount of notes and coins in circulation, as opposed to being simply drawn by the banks but not necessarily issued to the public.

One consequence of the new scheme is that since January, the total value of the notes and coins in circulation is only marginally higher than in past years. It is up 6.2 percent, as opposed to 11.3 percent last year.

The money supply in circulation is today estimated at $69.8 million, compared to last year's figure of $65.7 million.

The value of notes and coins issued this month was $8.26 million, compared with $7.35 million last year.