Business

SBP unlikely to issue new currency notes for Eid celebrations

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Staff Reporter

ISLAMABAD: The State Bank of Pakistan (SBP) is unlikely to issue fresh currency notes for Eid ul Fitr 2025, a trend that started during the COVID-19 pandemic.

Previously, the SBP would release millions of rupees in fresh notes before Eid, but this practice has been discontinued, leaving people to use old and worn-out notes for celebrations.

The lack of new notes may push individuals to buy from the black market, where currency traders sell new banknotes at higher prices during Eid. In previous years, scarcity led to a surge in illegal exchange of new notes, with customers paying a premium for crisp notes.

Eid ul Fitr is expected to fall on March 30, 2025, marking the end of Ramadan and the beginning of Shawwal. The Central Ruet-e-Hilal Committee will confirm the date based on moon sighting.

Pakistanis may enjoy a longer holiday season, potentially from March 29 to April 6, 2025.

Staff Reporter

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