Don ' t do anything <| sep |> Exchange of old currency notes stopped at banks from tomorrow Livemint New Delhi India will stop overthecounter exchange of old currency notes , which were made illegal earlier this month , after midnight on 24 November , the country ' s finance ministry said on Twitter . Those with old notes will still be allowed to deposit them into their bank accounts until 31 December , but not permitted to do outright exchanges . Earlier this month the government withdrew large denomination notes in an attempt to uncover billions of dollars in undeclared wealth . Foreign citizens will be permitted to exchange foreign currency up to Rs 5 , 000 $ 73 a week , the ministry said . The government had permitted various exemptions for certain transactions where payment could be made through old Rs 500 and Rs 1 , 000 banknotes .