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Money changers in India refuse in accepting Australian $100 bills

on January 5, 2017

Australian travelling to India experience difficulty in exchanging their $100 Australian bill to Indian Rupee as money changers refuse to accept it as a legal tender.

On December 14, 2016, a local news in Australia reported that the government, looks set to follow in the footsteps of Venezuela and India by abolishing the country’s highest-denomination banknote in a bid to crack down on the “black economy”.

The Australian Revenue and Financial Services flagged a review of the $100 note and cash payments over certain limits as the government looks to recoup billions in unpaid tax.

However, the plan to scrap the Australian 100 dollar is misleading and should be accepted as cash.

“The Australian Government is aware that some Australians have had issues in changing $100 notes for Indian Rupees,” a spokesperson for the Department of Foreign Affairs and Trade told news.com.au following this link dated 5th of January 2017.

“Following consultation with the High Commission in New Delhi, Department of Foreign Affairs and Trade travel advice for India was reissued on 5 January 2017.

“The Australian Government has no plans to withdraw the $100 note from circulation and it remains legal tender in Australia.

“The High Commission in New Delhi is working to inform the Indian community of the ongoing legality of the Australian $100 note.”

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