Currency

IMG_7039.JPGBy Martha

About four days after we arrived in this country, and a day after a successful trip to the ATM machine, the Indian government made a surprise announcement: starting immediately, all 500 and 1,000 rupee notes would no longer be valid currency. This was an attempt to disrupt the practice of corrupt individuals storing huge amounts of cash. As in, whole houses used only for storing cash. Can you imagine? Every single Indian citizen holding any cash in these denominations (which are like $10 or $20 bills) would need to take them to a bank, where they have an account, and exchange them for new bills.

 

Advertisements

One thought on “Currency

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s