![]() ![]() In a surprise move on Tuesday, India announced it was banning the circulation of Rs 500 and Rs 1,000 notes. "This is really frustrating and we had no time to act," she said, walking out of the dimly-lit building. Gurpreet Kaur, a Hong Kong resident who was trying to convert around Rs 50,000 ($748), was disappointed after seven money changers refused to accept the Rs 500 bank notes she presented. On Wednesday morning, more than the usual number of Indian customers turned up frantically looking to exchange their Indian bank notes, according to local money changers. The bustling 17-storey building, made famous by Wong Kar-wai's 1994 movie "Chungking Express" depicting the seedy underbelly of Hong Kong, is popular with travellers looking for cheap accommodation and spicy Indian and African curries. In Hong Kong's Chungking Mansions, home to more than a dozen money changers and a key hub for Indian businesses and traders, the rupee found no takers, with several currency dealers displaying "0.00" on their counters. India's shock move on Tuesday to withdraw large denomination bank notes from circulation to fight corruption and tax evasion has left some overseas citizens high and dry, as money changers in key Asian centres stopped accepting the currency. Government banned circulation of Rs 500, Rs 1000 notes yesterday.Ban on notes leaves overseas residents and currency dealers confused.Some money changers in Asia stop accepting rupee following ban on notes. ![]()
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