The Shazada Market money exchangers union in Kabul have raised serious concerns over the invalidation of 500 and 1,000 Indian rupee notes and said that according to their information an estimated 60 million rupees is in circulation in Afghanistan.
Last week, India suddenly banned more than 80 percent of its rupee notes and introduced new 500 and 2,000 rupee notes.
However, the Shazada Market Union has blasted government for not taking action on their behalf.
“We urge government to take action like other countries and not let the Indian rupees with Afghans become invalid,” said Haji Zerak, a member of the union.
But six days after the banning of the rupees, Afghanistan’s Central Bank has not come up with a possible solution.
The Central Bank said it is not its responsibility but that it is trying to find a solution to the problem.
“We have sent an email to the Indian Central Bank on how to solve the problem and we hope that soon we will get a response in this regard,” said Emal Hashor the bank’s spokesman.
“Besides Afghan businessmen in the country that have millions of Indian rupees, we have a number of Afghan businessmen in India that do business with Indian rupees and they are also facing problems,” said Chamber of Commerce and Industry spokesman Sayam Pesarlay.
According to Indian officials, people in India can exchange the invalid notes until December 30 from banks in India and until March 31 from Reserve Bank offices. www.tolonews.com/en/afghanistan/28354-afghan-money-exchangers-concerned-over-indias-currency-move
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