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Thursday, March 23, 2017

Indian Rupees Are Now Back at All CXI Locations

Indian Rupees Are Now Back at CXI
Source: www.reuters.com

 

Breaking News: Currency Exchange International (CXI) is excited to announce we are now able to buy and sell Indian rupees (INR) once again starting Thursday, March 23, 2017.

 

As many of you might remember, we were unable to exchange rupees for several months. This was due to the announcement on November 8, 2016 from the Prime Minister of India (Narendra Modi) to remove all 500 and 1,000 Indian rupee banknotes from circulation.

 

 
 

Looking for Rupees or other currencies for your upcoming trip?

Reserve it at your local CXI branch location

Locations by State:

 

 

Which denominations of Indian rupees can I buy?

CXI will only be able to provide the new 500 and new 2,000 rupee banknotes as shown below to start. Sourcing other denominations is limited on the global market. Click here to see the larger version of this image.

Indian rupee 500 and 2000 security features

Which denominations of Indian rupees can I sell?

The old outmoded 500 and old 1,000 rupee banknotes will not be accepted. CXI will only accept the following denominations of Indian rupees and all banknotes must have a date:

 

  • 10 Indian rupees (INR) front and back

 

  • 50 Indian rupees (INR) front and back

 

  • 100 Indian rupees (INR) front and back

 

  • New 500 Indian rupees (INR) front and back

 

  • New 2,000 Indian rupees (INR) front and back

 

What features do the new INR 500 and 2000 notes contain?

Front 

  • Color shift windowed security thread with inscriptions ‘भारत’, RBI and denominational numeral. Color of the thread changes from green to blue when the note is tilted.
  • Guarantee clause, Governor’s signature with Promise Clause and RBI emblem towards right.
  • Mahatma Gandhi portrait and electrotype watermarks.
  • Number panel with numerals growing from small to big on the top left side and bottom right side.
  • Denominational numeral with Rupee Symbol, in green to blue color changing ink.
  • Ashoka Pillar emblem on the right.

 

Reverse

  • Year of printing of the note on the left
  • Swachh Bharat logo with slogan
  • Language panel towards the center

 

Why was it hard to exchange the Indian rupee? 

The decision of the prime minister was made to effectively help stop counterfeit currency and corruption. "Black money and corruption are the biggest obstacles in eradicating poverty," Modi said in his address to the nation.

This made 86 percent of India's currency considered no longer valid. Since then, it was replaced with a Mahatma Gandhi new series.

On Saturday, March 11, 2017 confidence was restored back into the Indian economy after Modi's Bharatiya Janata Party (BJP) party won the majority of seats in the election by a landslide. This turn of events caused the Indian rupee to gain its strength once again.

 

 

 

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About Currency Exchange International
Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 90 foreign currencies, multi-currency cash passport’s, traveler’s cheques and gold bullion coins and bars. For financial institutions and corporations, our services include the exchange of foreign currencies, international wire transfers, global EFT, the purchase and sale of foreign bank drafts, international traveler’s cheques, and foreign cheque clearing through the use of CXI’s innovative CEIFX web-based FX software www.ceifx.com

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Posted By Jacquelyn McMullen at 03:00 PM
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