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Reserve Bank of India authorized field trials of polymer banknotes for lower denominations; will print 1 billion each of Rs 10 and Rs 20 notes to test durability, security, and public acceptance without retiring paper currency.
Reserve Bank of India, acting on Central Board recommendation, greenlit pilot trials of polymer currency notes for ₹10 and ₹20 denominations with 1 billion notes each, moving toward eventual paper currency replacement.
Indian rupee declined to 2-month low against US dollar despite RBI's repeated market interventions, driven by rising crude oil prices and external pressures.