Update on SBP new currency notes in 2026

KARACHI: The State Bank of Pakistan (SBP) used to introduce new banknote series to secure the integrity of banknotes after every fifteen to twenty years.

In keeping with tradition, the central bank began the process to introduce new currency notes in January 2024, inviting the public to send in designs.

Later in July 2025, SBP Governor Jameel Ahmed officially announced that designs had been finalized, while the design itself remained a secret.

Now, people are waiting for the launch of new banknotes.

The final designs will be presented to the federal government by the State Bank of Pakistan; it will take approval from the cabinet.

The process of issuance of new banknote series has several steps and stages; hence, it requires careful planning and coordination amongst multiple stakeholders.

The Central Bank says it takes 2 to 3 years to introduce a series of banknotes. However, according to a statement issued by the SBP in January 2024, it intends “to complete the process within the next 2 years”.

In the light of the above-mentioned, the new currency notes are expected to be revealed by the SBP in the year 2026.

In addition, the present series of banknotes shall continue in circulation even after the issuance of the new series.

Any decision on withdrawal of the existing series from circulation will be taken in a gradual and phased manner, once the new banknotes are issued and are in circulation in sufficient quantities, the central bank said.