The Indian government has just announced that the people have 50 days to bank all previous high denomination notes before they are de-monitised, in an effort to crack down on corruption and the black economy. So if you have a lakh of rupees under the mattress, it's time to start laundering them. I'll hazard a cynical guess that anyone who'd really be bothered by this knew the plan well in advance.
Yeah, that's like if the U.S. made a coin honoring the moon landing and then put, I don't know, Susan B. Anthony on it.
So, all notes 500 or greater rupees will be taken from circulation this year? What happens in you have a 1000 or 2000 or 500 rupee next year?
Well the moon landing didnt happen. That is fantasy just like what Susan B was try-- whoa maybe I shouldnt finish that joke
They are worthless unless you have the new 'high denomination' notes. Which you have to get through a bank by turning in the old ones and possibly explaining how you happened to have a suitcase full of them. Makes you think about the economy if 2000 rupees, about $30 is the highest denomination and they are withdrawing the equivalent of $15 bills.
The Taiwan NT's largest denomination is 1000, about 30-32 bucks. That's as high as they get, which is sort of weird, because if you want to buy something expensive you have to carry around a whole wad of cash. Then again, the PRC's highest common denomination is 100 Yuan, which is around $15. So you REALLY need a wad to buy expensive things there.
