At a time when Nepalese citizens are facing problems in exchanging withdrawn Indian notes of Rs 500 and Rs 1,000 denomination, the country’s central bank on Thursday banned the exchange of India’s new Rs 500 and Rs 2,000 currency notes. Even the fate of those old notes is uncertain, how can these new Indian notes coming into the market be considered as legal?" Indian currency is widely accepted in Nepal, where many people have been facing problems in exchanging the old Rs 500 and Rs 1,000 notes. The Nepal Rastra Bank set up a task force to prepare guidelines for exchanging the withdrawn Indian currency notes. The Nepal Rastra Bank has said the country’s financial system holds Rs 500 and Rs 1,000 notes worth Indian Rs 33.6 million.

Source: Hindustan Times November 24, 2016 13:15 UTC