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Showing posts from November, 2016

Debunking the myths of 2000 Rs notes and abolition of 500 Rs, 1000 Rs denominations

Seems that the new design notes especially the 2000 Rs. denomination note is taking the social media by storm. And now the prime minister banned the 500 Rs and 1000 Rs notes in India stirring up the speculation more. But several things aren't adding up here. A lot of speculation adding to the confusion about the governments new policy change. Let me point out some extraordinary contradictions on this topic. The following points make me doubt about the speculation in many ways. The goal of the expected issuance. Before banning of 500 and 1000 Rs. Notes Since the currency of India is continually depreciating and weakening against the dollar on current conditions, the necessity for a higher denomination to catch up with the value makes sense. And the newer version of other denominations along with 2000 Rs. denomination may have thought of containing some added authenticity measures. After banning of 500 Rs. and 1000 Rs. Notes The first thought was that new notes wil