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Travel Money Oz Recommences Trade in Indian Rupee

March 22, 2017 Financial No Comments Email Email

Australia’s leading foreign currency retailer Travel Money Oz has recommenced trade in the Indian Rupee (INR) following restrictions of trade brought about by the Reserve Bank of India’s decision to demonetise certain bank notes in November 2016.

Travel Money Oz stores can now accept valid tender INR bank notes with some restrictions only.

Scott McCullough, Retail General Manager of Travel Money Oz said, “We’re pleased to be able to reintroduce trade in the Rupee and understand the stress and difficulty that many travellers and members of the Indian community have had.

“We urge customers to come in with their valid 50, 100, 500and 2000 INR notes and we’ll be pleased to exchange them with no restrictions.

“Unfortunately, due to restrictions placed on us by our wholesaler we are unable to accept the notes which were demonetised, but we can accept all other valid INR notes.

“Many in the Indian community in particular were left holding Indian currency and not able to exchange it following the Reserve Bank of India’s decision.”

Travel Money Oz is Australia’s leading specialist Foreign exchange retailer with over 130 stores across Australia, open 7 days and until late.

INR restrictions still in place:

  • Travel Money Oz remains unable to accept 1000 Indian Rupee (INR) and pre-2016 issued 500 Indian Rupee (INR) bank notes due to restrictions imposed by the Reserve Bank of India.

Summary of acceptance by Travel Money Oz:

50 INR All valid Bank notes accepted
100 INR All valid Bank notes accepted
500 INR Only new issued 500 INR accepted.


1000 INR Not accepted
2000 INR All valid Bank notes accepted

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