Indian central bank introduces 200 rupee banknote denomination
New denomination should “facilitate exchange” for smaller transactions, RBI says
The Reserve Bank of India (RBI) introduced a new 200 rupee ($3.12) banknote on August 25 with the aim to facilitate transactions of low denominations and help retailers to provide change, the central bank says.
This new banknote should work as a link between higher and lower denominations, the RBI statement says. “In India, we have currency denominations of 1, 2, 5, 10, 20, 50, 100, 500 and 2,000. As such, in the lower end of the denomination series, 200 is the missing one,” Jose J Kattoor, RBI
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