The latest numbers from the Reserve Bank of India (RBI) show that a month after demonetisation, currency in circulation continues to fall.

The chart shows that the pace of the fall has come down as new currency notes are being printed.

But, as on 9 December—the latest date for which RBI data is available—currency in circulation was still only a bit more than half of what was in circulation on 4 November, before demonetisation was announced.

But that doesn’t capture the extent of the distress, because the Rs2,000 notes are difficult to use because change is not readily available.

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