121–130 of 336 posts
HN seems to push this link down the first page. The link above[0] this was posted 5 (2hours for this) hours back, and have 146 (197 for this) points and 60 (108 for this) comments. How can that be? How does HN actually work? [0] https://news.ycombinator.com/item?id=12894192
Earlier quoted context omitted.
2,000 rupees is 30 USD at today's exchange rate. I don't see why you wouldn't be able to exchange them at a money changer wherever you happen to be now, but for that amount it may well not be worth it.
The rupee is a closed currency, the OP was never permitted to take the notes of the country in the first place, so there is no way to change them.
[1] http://www.livemint.com/Money/xlZJZ0JJQ1xcx7792Vrt2O/DYK-You...
Doh! I was in India earlier this year and forgot to change currencies on the way out. Any ideas for a US national holding 9 of the Rs500 notes?
No can do. You're officially not allowed to remove rupees from India as far as I know: http://timesofindia.indiatimes.com/business/india-business/N...
Earlier quoted context omitted.
The highest denomination note of INR 1,000 is worth about USD 15.
> "but the Rs 1000 note was just worth $15USD" So, I think he agrees with you and is just pointing out without the 500 or 1000 note's the 100 is only worth $1.5USD.
Doh! I was in India earlier this year and forgot to change currencies on the way out. Any ideas for a US national holding 9 of the Rs500 notes?
This is the boldest and probably most brilliant move by any Indian politician since liberalization of economy in 1990s. Having said that, another way of understanding this is that as of today both old 500 Rs and 1000 Rs notes have been "probabilistically devalued". For anyone in middle class and below the value essentially remains the same (other than a small devaluation due to effort required to get them exchanged),…
Isn't this a trick that will only work once? Wont the people who are taking advantage of black money start using a different store of value that isn't controlled by the Indian government like foreign currency or high value commodities?
cash has always been a hot potato, particularly in india, due to high inflation. the elephant in the room remains real property registration / valuation / tax reform. only a matter of time. This is one of the silver lining's of the modern surveillance state.
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Changing $100 notes to $200 notes will open a new black market for converting 2 x $100 notes to $200. I think just removing the $100 note is safer.
2K notes are not just piece of paper, it does have NGC (Nano GPS Chip) by which income tax department can track the location and exact amount have stashed nearby that location. So sending that amount to some other country or keeping that money underground will be the most foolish thing one can do.
This is the boldest and probably most brilliant move by any Indian politician since liberalization of economy in 1990s. Having said that, another way of understanding this is that as of today both old 500 Rs and 1000 Rs notes have been "probabilistically devalued". For anyone in middle class and below the value essentially remains the same (other than a small devaluation due to effort required to get them exchanged),…
Call me up when our government stops doing idiotic things like sending billions in cash to Iran. Then I'll consider being concerned about income taxes.
I don't understand how you are capitalist until the other side is Iran.