He said the government has stepped up printing of 500 rupee notes and as its circulation increases, people would also take out the 2,000 rupee notes they were hoarding so far. Prime Minister Narendra Modi sent shockwaves through the country by announcing on November 8 all 500 rupee ($10) and 1000 rupee ($20) notes — some 85 per cent of all bills in circulation — would cease to be legal tender within hours.
Protests, with looting, erupt in several Venezuelan states as citizens lack cash for gas, groceries, and Christmas gifts, since the highly used, but now worthless, 100-bolívar notes were removed from circulation, and the substitute 500-bolívar notes are not available because of delays in bank deliveries.