Hawkes Bay NZ Water trail

Monday, December 26, 2016

M Block Market Greater Kailash

I've been coming here almost daily to exchange $US20, and thus ensure I don't have a fistful of 2000 rupee notes to deal with. The daily rate has ranged from 65 to 67 rupees per $. Of the 2 stores here, I prefer the money change storefront run by a large Sikh family. The girls now recognize me. You get to see others exchanging wads of cash. Today the woman in front of me received a wad of 2000 rupee notes that was almost 1cm thick. I suspect she was exchanging $100 bills. In theory there are limits on how much you can exchange daily. The official daily limit for ATM withdrawals is 2,500 rupees ($40). Hard currency is a different thing entirely. The Indian government hasn't been able to print New currency fast enough, so the December 30 deadline for all old 500 and 1000 rupee notes to be swapped for new 500s isn't going to happen. I got my first two new 500s today. At least the notes are clean. Some of the 10s and 20s I've received have been almost transparent. Those are the ones you get rid of first. It's really a case of kicking the can down the road.

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