<h1>India Ends Exchange of Old Rs. 500 and Rs. 1000 Notes; Some Exemptions Continue Until December 15, 2016.</h1> The Central Government announced that over-the-counter exchange of old Rs. 500 and Rs. 1000 notes would cease after midnight on November 24, 2016. However, certain exemptions allowing the use of these notes for specific transactions would continue until December 15, 2016, with modifications. These exemptions include payments for school and college fees, prepaid mobile top-ups, purchases from consumer cooperative stores, and utility bill payments for water and electricity. Toll payments using old Rs. 500 notes would be allowed from December 3 to December 15, 2016. Foreign citizens can exchange foreign currency up to Rs. 5000 per week, with entries recorded in their passports.