Key Takeaways
- State Bank of Pakistan (SBP) denies reports of Rs. 10 note discontinuation.
- SBP states no decision has been made to replace or discontinue any denomination.
- Public advised to rely on official SBP communications for currency-related matters.
The State Bank of Pakistan (SBP) has issued a statement clarifying reports that have been circulating on social media regarding the discontinuation of the Rs. 10 banknote. These reports, which suggested a deadline for exchanging the Rs. 10 note, have been deemed false by the central bank.
In a statement issued on Thursday, the SBP emphasized that the reports are baseless and have no substance. The central bank explained that it has submitted a proposal for a new banknote series, which is currently under consideration by the Federal Cabinet. However, no decision has been taken to replace or discontinue any denomination, including the Rs. 10 note.
The SBP reassured the public that if any decision is made to discontinue a banknote, it will be officially announced through proper channels. The bank also stated that the public will be given sufficient time to exchange any discontinued notes.
To avoid confusion, the SBP advised the public to rely only on official communications from the central bank regarding banknotes and currency-related matters. The bank reiterated the importance of staying informed through official channels to prevent the spread of misinformation.
The SBP’s statement comes as a response to the widespread concern and misinformation that has been circulating among the public. The central bank has been closely monitoring the situation and has taken steps to address the concerns of the public.
The SBP has been working on a new banknote series, which is currently being considered by the Federal Cabinet. However, the central bank has not yet made any decisions regarding the discontinuation of any denomination, including the Rs. 10 note.
The central bank’s statement is aimed at providing clarity and ensuring that the public remains informed about currency-related matters. The SBP has emphasized the importance of relying on official communications to avoid the spread of false information.
The SBP’s statement is part of its ongoing efforts to maintain public confidence in the banking system and ensure the smooth functioning of the economy. The central bank has been working to address the concerns of the public and provide clear and accurate information.
