UAE Exchange refute hoax messages on social media

Manama : UAE Exchange has refuted messages circulating in social media that the Indian currencies that were cancelled as legal tender almost a month ago will be accepted at their branches.

On 8 November 2016, Indian prime minister Narendra Modi announced the demonetization of the INR 500 and 1000 banknotes to fight corruption in India and address the issue of counterfeit banknotes.

According to a message being circulated mainly in Whatsapp and Facebook, Indians could exchange the demonetised notes at any UAE Exchange branches in the Gulf region on December 12 and 13.

However the exchange house has clarified that this was only a hoax.

“We are receiving a lot of inbound calls seeking service assistance to exchange these notes. We would like to reassure you that we are closely monitoring the situation and are standing by to make necessary arrangements as and when notified by Reserve Bank of India and/or Government of India for handling such notes outside India,” said a statement from UAE Exchange.

“As of today, all UAE Exchange branches worldwide is not accepting the demonetised currency notes of INR 500 and INR 1000 until further notice.”

The statement further says that all updates and communication on this matter will be issued through their official channels via uaeexchange.com, official Facebook and Twitter accounts, and press announcements.

“Should you come across messages received through any other platform, please disregard them as false information.”

They further request people to alert the company in case they come across any misleading messages by writing to corporate.communications@uaeexchange.com.