Tag Archives: rupees

rupees conundrum,

18 Nov

london 6.10pm 6.3C dry friday 2016

i got an email from my friend john, who says he got £100 worth of rupees which are now not legal tender. if he were to be in india now he could change them before december, or put it in his bank account, but he is here in uk, and it seems none of the indian banks here will take them. so i told him to ask at the exchange bureau and see if they will take them. after all, i was looking at the exchange notice board in some of the bureau de change in london and i see they quote rates for rupees. so perhaps they will take them. it did bring home to me how far ranging the effect of the govt action to take the notes out of circulation in such a short notice way.

added. i just realise something. £100 is 8420 rupees. so really he only got about eight of those 1000 rupees notes. or an assorted combination of 500s and 1000s. its not really a lot to change. i mean in the big scheme of things, its not a fortune is it?and i know i talk like i am rich, but it is only money. haha. and i know it seems rather rich to say £100 is not really that much. haha.  at first i thought it was like he got 84,000 rupees. but that is worth £1000. 

perhaps they should have targetted the higher denominations, as that would hit the rich. whilst these 500 and 1000 rupees are so low denomination the ordinary folks and the poor are worst hit. but as usual, any govt dont really like the poor and will screw them as often as they can. perhaps next election the poor might come together and elect another party … assuming there is some one strong enough to run on the poor platform and champion the poor. 

i read tourists in india are actually in serious trouble because they just dont have any money. and this is nevermind the locals themselves who must have got it worse.  it is quite a shambles isn’t it? it will generate a lot of ill feelings, and the actual black money people may not be that much affected anyway.

today a friend i met at the gay website came to london to visit. it costs him £28.50 or thereabouts for the day return train ticket from southampton. and that is using his old person annual train discount pass. i think it very expensive. i showed him the megabus website where he could have gotten a one way ticket by train to london for £1 plus 50p booking fee. i dont know about u, but even if i were mega rich i object to paying over the odds for a ticket that i can get much cheaper elsewhere. esp when there is no difference. maybe if it were first class and comes with a wonderful 3course meal with wine, i might consider…

so i met him at waterloo this morning and we went roaming round london. went to cafe nero, and then to quebec pub, a gay pub, but during that time we were there (about 3pm) it has successfully adopted a straight look and attracted tourists to it, and then we ended up at compton bar in old compton st in soho.  its been ages since i been in gay pubs. i left him at about 5pm in there as he wanted to stay longer, whereas i was getting tired and want to get back.

i got back in plenty of time to have dinner that simon was cooking, meatballs in tomato sauce over spaghetti. quite delicious and came at just the right time as i was hungry, not having eaten anything all day. i did not feel hungry until i ate the spaghetti. 

added. 5.18pm 6.6C rain saturday 2016. this article about the 10 groups of people who will lose out by the rupee abolishment, makes for interesting reading. so i am wrong in saying only the poor and ordinary people lose out. indeed the poor wont lose out as if they are poor they would hardly have lots of cash lying around. haha. the middle classes might lose out. and those who dont trust the bank and prefer to keep their savings as cash. though if they are savvy they would have bought gold . 

india has abolished the 500 and 1000 rupees notes.

9 Nov

london 11.58am, 12.34pm 7.3C

this is so unusual that i thought it was a mistake. i first read it in a blog in wordpress, but googled it and found a news item that confirms it. i have never heard of this happening to any other country before. without any notice. we can see it is to solve the black market hoarding of cash. many of them will be left with trying to change huge amounts of money and will find it hard to account for it. the notes to be abolished are equivalent to £5 and £10 notes. £1=82.62rupees