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Pakistan Spurns Call to Do Away With 5,000-rupee Note

Pakistan's government has dismissed a recommendation from the upper house of parliament to scrap the 5,000 rupee ($48) bank note to cut the flow of illicit money and reduce the size of the informal economy. India scrapped its two biggest currency bills — the 1,000-rupee ($15) and 500-rupee notes — in November in a bid to flush out money hidden from the tax man, leading to acute currency shortages and raising concern about growth there. Pakistan's Senate passed a nonbinding...

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