Close to two years since India's surprise move to withdraw high-value currency notes in November 2016, the impact of demonetisation continues to haunt two of its important neighbours - Nepal and Bhutan.
India has yet to exchange old notes worth more than nine billion rupees (S$170 million) that are in the hands of individuals and financial institutions in Nepal. Bhutan, on the other hand, fears another round of demonetisation and has urged its nationals to be cautious when handling Indian currency.
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