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Currency in circulation 30% short of pre-demonetisation levels, shows RBI data

Following the government’s demonetisation move that invalidated Rs500 and Rs1000 notes, new Rs500 notes and Rs2000 notes were introduced as part of the remonetisation exercise. Photo: AFP

Following the government’s demonetisation move that invalidated Rs500 and Rs1000 notes, new Rs500 notes and Rs2000 notes were introduced as part of the remonetisation exercise. Photo: AFP

Currency in circulation in India stood at Rs12.45 trillion as on 10 March, showed data from the Reserve Bank of India. Although the pace of remonetisation was quicker in the week to 10 March compared to the two previous weeks, currency in circulation is still at about 70% of pre-demonetisation levels.

On 4 November 2016, currency with the public was Rs 17.97 trillion. It had dropped to a low of Rs8.98 trillion as on 6 January following the government’s demonetisation move on 8 November—invalidating Rs1,000 and Rs500 notes which amounted to around 86% of the total currency in circulation by value.

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Credit: livemint.com

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