Effects of demonetisation being felt in Morocco too

MARRAKECH, MOROCCO: The effects of the government's demonetisation decision are being felt even in far away Morocco. The cash withdrawal limit imposed following the government’s announcement has created a liquidity problem for Indians attending the two-week long UN climate talks in the Ochre city.

For the better part of the two weeks, The daily cash withdrawal limit is set at Rs 2000. Given the Rupee to Moroccan Dirham exchange rate, the maximum amount Indians can withdraw works out to 200 Moroccan Dirhams, that is roughly between Rs 1,350 and Rs 1,400.

“The government did not take into account that people traveling outside India mostly depend on the ATM for accessing local currency,” said Harjeet Singh, climate policy adviser with ActionAid.

While this does not present a problem at the venue in Bab Igli, where credit and debit cards are accepted, it does present some problems while traversing the city. Cab drivers for one are not equipped to accept anything other than cash payments.

Some of Indian participants at the climate talks took to social media to convey their difficulties to the government. However, there hasn’t been any easing of cash withdrawal limits for those travelling out of the country.

There are more than 100 Indians attending the UN climate talks. Other than officials, there are media persons, civil society representatives, and think tanks, who are attending the talks.