I would not be surprised if one of the unstated goals was the removal of counterfeit high denomination notes from circulation. High denomination notes are the most attractive to counterfeit and such counterfeiting is often done by state level actors with budgets sufficient to produce high quality notes. The actual number of notes taken out of circulation is 1% of legitimate notes plus the number of counterfeit notes in circulation because the number of notes in circulation prior to the transition included counterfeit notes.