I am a foreign tourist with Rs 500, Rs 1000 notes. What can I do?

If you are a foreigner and still have Rs 500 and Rs 1000 notes, you can purchase foreign exchange equivalent to ?5000 at airport exchange counters within 72 hours after the notification, provided you present proof of purchasing the Specified Bank Notes.

Currency notes of Rs 500 and Rs 1,000 denomination that are currently in circulation will no longer be legal money and cannot be used as medium of exchange from Tuesday midnight, as Prime Minister Narendra Modi in a surprise move clamped down on black money as well as counterfeit notes in circulation. Instead, the Reserve Bank of India (RBI) will issue new Rs 500 and Rs 2,000 currency notes.

Existing currency notes of Rs 1, 2, 5, 10 and 100 denomination as well as coins continue to be legal and could be used for buying and selling.