Indian Currency Circulating Abroad

By Vijay Kumar

WE think the humble rupee does not command the glamour of the dollar, but the fact is that a huge amount of Indian Rupees is available abroad. Recently the Mumbai Customs arrested a minor boy trying to smuggle Rs. 72 lakh from Hong Kong to Dubai via Mumbai. Where did he get 72 lakhs of rupees in Hong Kong and what was he planning to do with this money in Dubai?

Obviously, apart from the black money stashed away in foreign banks, there is a lot of Indian currency floating around abroad.