(MENAFN- The Peninsula) UAE Exchange group has denied all rumours on the exchange of demonetised Indian banknotes through money exchange companies in the Gulf region.
India scrapped 500 and 1000 denominations from its currency on November 8, making the bills illegal tender. Following this, currency exchange houses here have suspended selling and buying of the demonetised bills.
However, rumours have been circulating in the Gulf region including Qatar, that these currencies can be exchanged through money exchange companies.
Qatar-UAE Exchange has urged its customers and the general public to be careful and vigilant with such fake messages, especially those circulated through social media and other channels like WhatsApp.
Screenshot of Whatsapp message of an UAE Exchange employee.
'We are receiving many calls and customer visits at our branches seeking assistance to exchange the demonetised banknotes based on the fake news being circulated on social media and WhatsApp channels. We would like to inform our customers that currently we are not offering this service, said Promoth Manghat, Chief Executive Officer of UAE Exchange Group.
In response to the latest fake message doing the rounds on WhatsApp citing that UAE Exchange is offering to exchange the demonetised banknotes of Rs500 and Rs1,000 at its branches in the Gulf region on December 12 and 13, Qatar-UAE Exchange reiterated that they are not accepting these banknotes at any of its branches worldwide.
'Further to the notification of demonetisation by Reserve Bank of India, exchange houses are not accepting the demonetised banknotes," said Manghat.
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