The UAE Exchange, a leading money transfer service in the region, has clarified that the exchange is not accepting the demonetised currency notes of India's Rs500 and Rs1,000 denomination.

The clarification follows fake WhatsApp Audio messages that are circulating in the UAE and across the GCC claiming that the UAE Exchange is accepting the demonetised currency notes, said the company.

"We would like to ensure that those are false claims which are misleading the public to visit the branches all over the country trying to exchange the notes," it said

"We are receiving a lot of inbound calls seeking service assistance to exchange these notes. We would like to reassure you that we are closely monitoring the situation and are standing by to make necessary arrangements as and when notified by Reserve Bank of India and/or Government of India for handling such notes outside India," the exchange house said.

"As of today, all UAE Exchange branches worldwide are not accepting the demonetised currency notes until further notice," it said.

All updates and communication on this matter will be issued through our official channels via uaeexchange.com, official Facebook and Twitter accounts, and press announcements, it added.  -TradeArabia News Service