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Added on the 16/08/2016 10:51:40 - Copyright : Reuters EN
What would you do if the government removed all $100 and $50 bills from circulation? That's basically exactly what happened in India after the Indian government decided to remove the 1,000 and 500 rupee note from circulation last Tuesday, and millions of people lined up at banks to exchange their now worthless paper for legal currency. Footage from Bangalore shows the chaos at banks across India on Saturday, as millions of people queued up for hours to change old currency notes that became worthless days earlier. Long lines formed outside the banks and scuffles broke out after some ATMs ran out of cash. More than half of India's 220,000 ATMs were not ready to dispense the new bills. On Tuesday, November 8, the same day as the US presidential election, India's government made a surprise announcement that all 500- and 1,000-rupee notes were being taken out of circulation and had no cash value, in an effort to tackle corruption and tax evasion, causing a rush to the banks to swap the old, now defunct notes.
The Lebanese pound sinks to a historic low against the dollar on the parallel market, as banks in the crisis-hit country resumed an open-ended strike. The Lebanese pound, officially pegged at 15,000 to the dollar, was trading at 100,000 against the greenback on Tuesday, dealers said -- a dizzying plunge from 1,507 before the economic crisis hit in 2019. IMAGES
Beijing, Oct 14 (EFE/EPA).- China's central parity currency, the renminbi (yuan) rose 28 pips to 6.4386 against the US dollar on Friday. (Camera: WU HONG). SHOT LIST: WORKERS AT A WELDING PRODUCTION LINE AT THE SANY BEIJING ROTARY DRILLING RIG PLANT DURING A GOVERNMENT-ORGANIZED TRIP FOR JOURNALISTS, IN BEIJING, CHINA.
Beijing, Oct 15 (EFE/EPA).- The main indicator of inflation in China, the consumer price index (CPI), rose 1.7 percent year-on-year in September, the lowest rate so far this year, according to official data released by the National Bureau of Statistics on Thursday.In August the index had risen 2.4 percent compared to the same month last year, so the September data represents a drop of 0.7 percentage points in the month-on-month comparison. (Camera: Wu Hong).B-ROLL OF A MARKET IN BEIJING, CHINA.
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