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Rs. 17 Lakh Crores worth Currency notes being exchanged throughout the country
Posted on: 09/Nov/2016 4:57:22 PM
In the exchange of Rs. 17 Lakh Crores, the currency notes of Rs. 500 and Rs. 1000 are the maximum. The denominations of currency notes of Rs. 100, Rs. 50, Rs. 20, Rs. 10, Rs. 5, and Rs. 1/- submitted for exchange are minimal.
Out of the total currency in circulation in the country, currency notes of Rs. 500 are 47.8 percent. This means that almost half of the currency notes in circulation are of Rs. 500 denomination.
The circulation of Rs. 1000 currency notes contribute 38.6 percent. Thus, among the total currency in circulation, the currency notes of Rs. 500 and Rs. 1000 contribute approximately 86 percent.
All these currency notes are to be changed before March 2017. This means that in another 4 months, all people will be handling new Rupee currency in their hands throughout the country.
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