Tag Archives: currency

Benghazi, Libya | AFP | When a cash crisis struck the war-torn North African country of Libya, many people were forced to queue for days to withdraw their savings. But electronic payments systems set up to tackle the dearth of cash have struggled to gain credibility amid accusations of abuse. Said …

Tokyo, Japan | AFP |Mark Karpeles, the former CEO of collapsed Bitcoin exchange MtGox, denied wrongdoing Tuesday as his trial got under way in Tokyo on charges linked to the disappearance of hundreds of millions of dollars worth of the virtual currency. The French national — once the high-flying head …

Tokyo, Japan | AFP |  Mark Karpeles, the former CEO of collapsed Bitcoin exchange MtGox, went on trial in Tokyo on charges stemming from the disappearance of hundreds of millions of dollars worth of the virtual currency from its digital vaults. Here are some key facts about the world’s most …

Mumbai, India | AFP | Indians rushed to change their bank notes Friday before a deadline to deposit invalid rupee notes closed, as Prime Minister Modi defended his controversial move to reduce cash in use. His shock November 8 announcement rendered 86 percent of India’s currency void, giving customers until …

New Delhi, India | AFP | Huge bank queues have become an ubiquitous sight across India after the government suddenly withdrew the two highest denomination notes from circulation two weeks ago — but now you can hire-a-queuer online. New Delhi-based startup BookMyChotu — a play on the Hindi word “chotu” …

New Delhi, India | AFP |  India announced new measures Thursday to allow farmers and marrying couples to withdraw more money from banks, as frustration mounted over a cash crisis triggered by the withdrawal of all high-value notes. The shock move last week, which saw 85 percent of the cash …

Kathmandu, Nepal | AFP |  Nepal’s Prime Minister Pushpa Kamal Dahal called his Indian counterpart Narendra Modi Tuesday to find out how Nepalis could exchange Indian rupees they hold in the now banned denominations. The two countries share a long border and close cultural ties, and many Nepalis hold large …

Mumbai, India | AFP | Months of planning by a select few sworn to secrecy and then cash-laden trucks on the streets. But this was no bank robbery — rather an audacious plan to issue new notes across India. There are 1.25 billion people in India but only a handful …

New Delhi, India | AFP | Indian Prime Minister Narendra Modi ordered the withdrawal of 500 and 1,000 rupee notes from circulation on Tuesday in a shock announcement designed to tackle widespread corruption and tax evasion. Modi said that while people could exchange their old notes for new bills at …

Harare, Zimbabwe | AFP | Zimbabweans know the risks of worthless money all too well after hyperinflation between 2007 and 2009 gave them the 100-trillion-dollar banknote that barely bought a loaf of bread. Now they fear that the government is about to create another devastating crisis by printing its own …