About 74% remonetisation complete by March-end

By the end of March 2017, the currency in circulation had reached 74.3 per cent of the level prevailing prior to demonetisation.  

The pace of growth in the currency in circulation had moderated for four weeks in March, when some cities had witnessed difficulty in cash withdrawals at ATMs. Currency in circulation for the week ended March 31, 2017, rose by 1.7 per cent to Rs 13,35,270 crore over the previous week. According to Reserve Bank of India (RBI) data the currency in circulation on November 4, 2016, was Rs 17,97,460 crore. The pace of incremental growth of currency in



circulation per week showed moderation in March. It rose by four per cent in the week ended March 10 over the previous week. But the pace dipped to 2.8 per cent for the next week (March 17) and slowed further to 2.5 per cent for the week ended March 24.

The pace of remonetisation gathered pace in February. By the last week end of February, the currency in circulation was about 64.7 per cent of the currency in the system on November 4. 

The amount rose from 56.6 per cent in January 2016, up from 52.2 per cent at the end of December 2016.