Exchange houses offer higher rates to get rid of demonetised Indian notes
While India is reeling from the heartburn caused by demonetisation of its biggest denomenations — Rs 500 and Rs 1,000 — at least some expatriates in Qatar may be feeling happy.
This is because according to Qatar Tribune, some exchange houses in the country are offering sky-high exchange rates for Qatari Riyal in an attempt to sell off scrapped Indian rupees they are holding with them.
While the normal exchange rate for a Qatari Riyal is Rs 18.50, it was reported that one exchange house offered up to Rs 32 for the same.
If you thought people would be crazy to give away their hard-earned Riyals for Indian notes whose future is uncertain, then think again. It is reported that the exchange house got rid of Rs 6 million just on Monday.
Wow. Simply, wow!
Good Try by author to get more share and likes by mentioning a bogus exchange rate. :)
I find it rather strange that business should act in such a way..