It has been reported that an informal market is developing for large amounts of “pink” 2,000 rupees banknotes (INR2,000.1) owned by people and do not wish, or cannot, deposit them to their own bank accounts.

Some gold traders are accepting these notes either in payment of gold bullion sales, or exchange for current 500 rupees notes. At the moment the discount going rate is 7%.

Source: India Today.

Courtesy: Gabriel’s Numismatic Market.

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