Indeed, with money having disappeared from wallets and ATMs rarely open, money has become the latest commodity being sold and bought at Burrabazar. An acute shortage of Rs 100 notes had essentially meant that for traders, daily wage workers and small traders, the previously prized Rs 500 and Rs 1,000 notes had little value. “We took Rs 1,000 and Rs 500 notes from customers who didn’t have anything else, as long as they bought wares for that price. Starting from Rs 460-Rs 480 for a Rs 500 note, the rate had gone down — or up, depending on who’s buying — to Rs 600 for a Rs 1,000 by Wednesday. “One trader must have made crores giving away half the value for every Rs 500 or Rs 1,000 note he received.

Source: Indian Express November 17, 2016 18:57 UTC