The Union Government’s decision to withdraw currency notes in the denomination of Rs. 500 and Rs. 1,000 as part of its crackdown on black money has affected locals and tourists alike.
Foreign tourists have been thronging banks to exchange the wad of Rs. 500 and Rs. 1,000 notes that they received in exchange for foreign currencies at the airport and private forex counters.
Even as they struggle to procure enough cash to meet their daily needs, their woes have been exacerbated by the mad rush for, and restrictions on, cash withdrawal.
When Cinal, a tourist from Perpignan, a city in Southern France, reached here on Wednesday, little did he know that his bundle of Rs. 500 and Rs. 1,000 notes would be of no use.
“I reached here a few days ago and the sudden demonetisation move has hit tourists badly. The Indian notes of Rs. 500 and Rs. 1,000 are not accepted anywhere outside and I have been using my Visa card to meet hotel and other expenses,” he said and added that necessary arrangements could have been made for foreign tourists so that they were not left high and dry.
Sherbaniuk, a tourist from Ireland, said she was able to get a mere Rs. 4,000 exchanged after waiting in a queue at the State Bank of India for more than two hours.
“I am not able to get more than the prescribed daily limit. The Rs. 500 and Rs. 1,000 currencies have now become worthless and even my Euros could not be exchanged immediately at private kiosks or in the bank,” she said.
Some tourists said they were planning to reschedule their trip.
“Though I had withdrawn cash a couple of days ago, they are in the higher denomination and shopkeepers are not accepting them. I desperately need change and will try to withdraw as much as possible,” said Pascal, another French tourist.
The owner of a private forex firm on Mission Street said that most of the firms dealing in foreign currency exchange were unable to dispense money due to a shortage of lower denomination notes.
