85 breached
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The Reserve Bank of India (RBI) on Monday said 97.87 per cent of the Rs 2000 denomination banknotes have returned to the banking system.
Only Rs 7,581 crore worth of the withdrawn notes are still with the public, it said.
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The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,581 crore at the close of business on June 28, 2024.
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“Thus, 97.87 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,” the central bank said in a statement.
On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
The facility for exchange of the Rs 2000 denomination banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) since May 19, 2023.
Since October 9, 2023, RBI Issue Offices are also accepting Rs 2000 banknotes from individuals/entities for deposit into their bank accounts.
Further, members of the public are sending Rs 2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.
The 19 RBI offices depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
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