Legal tender with its own rial in 1970. On 8 November 2016, Prime Minister Narendra Modi announced that existing INR 500 and INR 1000 banknotes would no longer be accepted as legal tender with a view to curb counterfeiting, tax evasion and the parallel economy. The Reserve Bank of India outlined a scheme for holders of such banknotes to either deposit them into their bank accounts for full, unlimited value, or to exchange the banknotes for new, subject to a cap. New Zealand has a complex history of legal tender. English law applied, as applicable to local circumstances, from either 6 January
Bank of England £5 note the only £5 note that is currently legal tender. The old paper series E was withdrawn, following a co-circulation period with both notes being legal tender which ended on 5 May 2017. The Bank of England is responsible for printing and issuing notes to ensure a smooth monetary supply across the United Kingdom. It reports the number of notes in circulation at any given time. As of the end of February 2016, there were £1,645,000,000 worth of £5 notes in circulation, which is equivalent to 329,000,000 individual notes. Table sources from the Bank of England Statistics Bank of England £5