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2 clusters · 10 sources · 24 days · First seen · Last updated

Pakistan currency reform and banknote security

Overview

The State Bank of Pakistan (SBP) has been evaluating currency reforms, including the potential replacement of the 10 rupee banknote with a coin due to rising production costs. During a Senate Standing Committee on Finance briefing, SBP Deputy Governor Dr. Inayat Hussain noted that the central bank is also developing a new series of banknotes with enhanced security features to replace designs in use since 2005.

Following social media reports regarding the discontinuation of the Rs10 note, the SBP issued a clarification denying that any deadline has been set for the exchange or discontinuation of current denominations. While the SBP has recommended the change, the final decision on new currency denominations rests with the federal cabinet.

In both discussions, the Senate committee raised concerns regarding the circulation of counterfeit 1,000 and 5,000 rupee notes appearing in banks and ATMs. The SBP has advised the public to use official government channels for information regarding currency updates.

Entities

Saleem Mandviwalla · State Bank of Pakistan · Pakistan · Dr. Inayat Hussain · Senate Standing Committee on Finance

Timeline

  1. 3 days ago

    [BUSINESS] 2 sources
    State Bank of Pakistan denies Rs10 note discontinuation rumors

    The State Bank of Pakistan has rejected rumors regarding the discontinuation of the Rs10 note, stating that any decision on new currency denominations remains under federal cabinet consideration.

  2. 26 days ago

    [BUSINESS] 7 sources
    State Bank of Pakistan considers replacing Rs 10 note with coin

    The State Bank of Pakistan is considering replacing the 10 rupee note with a coin due to high production costs while developing a new series of banknotes with enhanced security features.

Sources

abbtakk.tv · arynews.tv · customstoday.com.pk · dailyqadamat.com · dnanews.com.pk · express.pk · flare.pk · javedch.com · roshanpakistannews.com · urdu.arynews.tv