Govt issues clarification on new currency notes

ISLAMABAD: An important clarification has been made for the public regarding the issuance of new currency notes.

After the new notes are issued, the old currency notes will not be phased out immediately, but will be phased out in phases.

The Government of Pakistan has decided to issue currency notes from Rs 10 to Rs 5,000 with a new design and modern security features.

Along with this, work is also underway to introduce plastic (polymer) currency notes.

According to sources, the old notes will remain usable for a specific period and will be replaced in a phased manner.

For this purpose, a clear timeline will be given to all banks, including the State Bank, during which citizens will be able to deposit their old notes in banks and get new notes.

It is being said that the currency notes with the new design will come into the market during the current year 2026.

There is currently about Rs 10,260 billion worth of currency in circulation in the country, in view of which the government will issue comprehensive instructions to all banks for the exchange of old notes.

According to officials, the new currency notes will be stronger in terms of security and will help make financial transactions in the country easier and safer.