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Indian diaspora caught out by surprise currency clampdown

Reuters  |  HONG KONG/SINGAPORE 

By Denny Thomas and Nicole NeeHONG KONG/SINGAPORE (Reuters) - 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.In Hong Kong's Chungking Mansions, home to more than a dozen money changers and a key hub for Indian businesses and traders, the Indian rupee found no takers, with several currency dealers displaying "0.00" on their counters.The bustling 17-storey building, made famous by Wong Kar-wai's 1994 ...

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First Published: Wed, November 09 2016. 16:57 IST
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