New Delhi: A sting operation conducted by NewsX has revealed the plight of common people looking to exchange their money at Forex dealers. In the video the person across the table clearly states that the rate to buy one dollar is Rs 110!

In the sting operation, conducted in Delhi’s Pahaganj area, our reporter exposed the nefarious money exchange dealers wiring into changing the demonetised notes with foriegn currency at a higher rate.

Here is the conversation that our reporter had with the money exchange dealer:

Money Exchange Dealer: You can use the Rs 500 and Rs 1000 notes here. You will get any currency that you wish for – US Dollar, Euro, Canadian Dollar, Yuan. It is better to exchange the currency than buying gold. Even the jewellers won’t accept these notes now.

NewsX: I have an amount with Rs 500 and Rs 1000 notes. But you know it has been discontinued. Can we do something about it?

Money Exchange Dealer: You’ll get a dollar at the rate of Rs 110.

NewsX: But the rate is around Rs 65?

Money Exchange Dealer: You know that the currency notes that you have are merely pieces of paper now, right?

While the government is trying to control the black money, there are people who are trying to puncture the entire campaign and trying to make profit out of current situation.

Prime Minister Narendra Modi had, on Tuesday, in a major decision, announced that Rs 500 and Rs 1,000 notes would no longer remain a legal tender and will be replaced by new Rs 500 and Rs 2,000 currency notes.

However, PM Modi also mentioned that there was no need to panic, as people will be able to deposit or exchange the discontinued notes from any bank, post office through their accounts between November 10 and December 30. 

First Published | 10 November 2016 7:04 PM
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