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  • Category: Banking

    How much value of currency is in circulation currently?

    Is the demonetization genuinely effective in our country? How many lower denomination notes are yet available in circulation?

    Currently people are experiencing the demonetization exercise. I wonder how much value of money is in circulation as of now? How many currency notes of 1,2,5,10,50 and 100 are in circulation?
  • Answers

    4 Answers found.
  • Circulation of currency can't be calculated because daily there are lots of circulations in the currency. Each bank's is given some crores of currency to distribute among their branches.. The actual value can't be mentioned as security reasons.

  • Considering 50 and 500 were removed out of circulation once each. So it'd be hard to come up with a number. Due to the amount of unaccounted tax avoided money and the black money tax evaded, it's hard to find out exact number. Another reason is that most of the black money is turned into legal or white money. This was done using many ways such as using the lower class workers, farmers and banks. So many people have got away with the demonetization changes. It'd be hard to come up with number. As each bank maintains different number and RBI is yet to get hold of final number. But considering many people burned or disposed this money, i am sure this money would be harder to count.

  • Today, there are Rs. 500 and 1000 rupee circulation of notes cancelled. By which all the large volume of circulation will get into the banks. And all who saved money more than 2 lakhs will be catch out. But there is another problem happen at the village site, there is lack of new currency notes arrival and lack of banking knowledge in village area. So they didnt know about this current news of new notes in circulation.

  • Reserve Bank of India submits annual report regarding total currencies available on 31st March of every year.
    On 31st March 2016 Reserve Bank of India stated that 16.42 lac crore currencies are available in total out of which old currency of Rs. 500/-- and 1000/-- were 86% i.e. 14.18 lac crore. It is the matter of Reserve Bank of India. Our source of knowledge is RBI only. If Reserve Bank of India declares the total currencies available in the denomination of Rs. 1/, 2/-, 5/-, 10/-, 20/-, 50/-, 100/-, then only we come to know. All these data are available with government agencies only. This is not available publicly. To know the answer of your question in detail click here CURRENCY AVAILABLE

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