India's Currency Demonitization

[errolanderson]

http://www.cnbc.com/2016/11/21/india-demonetization-news-expect-short-term-pain-analysts-say-as-growth-expected-to-take-a-hit.html

India is replacing old rupee notes with new in an effort to fight corruption, counterfeiting and collect taxes.

This is having a direct impact on commodity import prices into India. Believe our lentil bids may have already been impacted. Yellow peas may be impacted.

India's inflation rate is expected to decline as a result and India's central bank is now expected to cut rates further. Rupee money velocity and liquidity will be impacted.

[perfecho]

Had some friends touring over there not quite a month ago when this happened.....a big problem for some, long waits to trade old for new at banks, and you could only do a few dollars worth at a time. Interesting way of cleansing the underground.