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Forex traders said the increase in capital gains tax and removal of indexation benefits announced in the FY25 Budget on Tuesday was the main reason for dollar buying as foreign investors sold stocks.
Only Rs 7,581 crore worth of the withdrawn notes are still with the public, said the apex bank.
Major national surveys predicted massive win for BJP-led NDA in LS polls.
Most of the Rs 2,000 notes that were withdrawn expected to be returned by September 30 deadline, says Shaktikanta Das
The Reserve Bank of India had issued a statement directing all banks to halt the circulation of Rs 2,000 currency notes.
The decision comes following the Reserve Bank of India's statement directing all banks to halt the circulation of Rs 2,000 currency notes.
The decision to withdraw Rs 2,000 notes is different from demonetisation which involves eliminating the lawful acceptance status of a monetary unit in an economy.
However, the banknotes in Rs 2,000 denomination will continue to be legal tender, the RBI said in a statement.
Sustained foreign fund outflows and firm crude oil prices further dented investor sentiments, forex traders said.
The Pakistani rupee depreciated by Rs 2.52 to settle at Rs 271.35 at the close of the day.
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