Eid-ul-Fitr 2024: Is SBP issuing new currency notes?

KARACHI: As the demand for new current notes of various denominations raised on Eid, the State Bank of Pakistan (SBP) has not made any announcement regarding the matter.

Therefore, it is highly unlikely that SBP will be issuing new currency notes for Eid ul Fitr 2024. This year the central bank has chosen to abandon its usual practice of issuing new currency notes during Eid al-Fitr. This decision is expected to raise a stir among the people, who are eagerly awaiting the new notes for their Eid festivities to give Eidi.

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As Eid-ul-Fitr approaches, the State Bank of Pakistan (SBP) along with commercial banks has stopped distributing new currency notes on Eid ul Fitr. This has resulted in the formation of a currency mafia that has grabbed all the new currency notes from the market and profited from the situation by selling new note bundles in the black market.

According to the Pakistan Meteorological Department (PMD), there is a strong possibility of the Shawwal moon being sighted on April 9 making the first day of Eid-ul-Fitr on April 10 (Wednesday). Met Office on Monday said the birth of the new moon will be on April 8 at 11:21 pm and on April 9, the age of the moon will be 19 to 20 hours.

Furthermore, the Met Dept said the forecast in most parts of the country would likely remain clear on April 9. However, it added that the sky might be cloudy in northern areas.