Indian banks received 3 trillion rupees ($44.4 billion) of 500- and 1,000-rupee notes over the last four days, the Finance Ministry said on Sunday, after the government announced it would withdraw such bills to crack down on corruption.
Anger was rising across India on Saturday as banks struggled to dispense cash after the government withdrew large denomination notes in a shock move aimed at uncovering billions of dollars of unaccounted wealth hidden from the taxman.
In the dusty village of Dudko, farmers and villagers are desperate for new currency notes after the Indian government banned 500 and 1,000 rupee notes last week in an effort to flush black money out of the economy.
Rail traffic between Ivory Coast and Burkina Faso has been halted for at least two weeks after a bridge collapsed on the line linking the two countries, the operator has said.
Emerging stocks touched 13-month highs yesterday as investors priced out the likelihood of a September US rate rise and stronger currencies raised expectations that some central banks could act to curb the gains.
Saudi Arabian Oil Co has held talks with banks about selling Islamic bonds for the first time, according to three people with knowledge of the matter.
