I have two 500-euro notes. Today I went to a forex shop in India to exchange them. They showed me that the notes have 1 small hole each and so they can't exchange them. In this case, where can I go and exchange these euro notes? Can the RBI do it? Or if I go to any of the normal banks, will they accept them? I am an Indian national.
2One small hole should not have stopped the forex shop. Likely they looked for an excuse for not taking them.– Willeke ♦Mar 19, 2018 at 20:59
500€ notes are problematic, production is even scheduled to be stopped by the end of 2018, so you could have problems exchanging them even in Europe, no wonder a local shop refused it.– molnarmMar 20, 2018 at 9:48
In Europe, one rarely encounters €100 notes. The €200 & €500 notes are even rarer and many (most?) stores refuse to accept them. However, the €200 & €500 notes are popular with various criminal types and are associated in the minds of many Europeans with money laundering or the suspicion that the notes are fake. If you are offered these notes, it is wise to refuse them. Like Marton, I am not at all surprised your local forex shop refused your less than perfect notes.– NickMar 20, 2018 at 22:46
You might have some difficulty exchanging less then perfect €200 & €500 notes.
I suggest you hang on to them and exchange them for smaller denominations at the first bank you see on your next visit to Europe. You might have to supply id and additional details of where you got them.