Bhaskar Chakravorti on NPR – “What Can India Teach Us About Abolishing High-Value Currency?”
What Can India Teach Us About Abolishing High-Value Currency?
by Julie McCarthy
Bhaskar Chakravorti of The Fletcher School at Tufts University says most Europeans don’t rely on the 500 euro bill to conduct legitimate business any more than Singaporeans depend on their country’s S$10,000 bill, which has also been phased out.
“Those denominations are so high that generally, anybody who would have to deal with that value of a transaction would probably use a digital transfer for it,” says Chakravorti.