Key Takeaways
- The State Bank of Pakistan (SBP) has rejected reports of the Rs10 banknote being discontinued.
- The central bank stated that no decision has been made regarding the replacement or discontinuation of any denomination.
- The SBP advised the public to rely on official communications for any updates.
The State Bank of Pakistan (SBP) has categorically denied reports circulating on social media regarding the discontinuation of the Rs10 banknote, describing them as baseless and without substance.
In a press release issued on Thursday, the SBP clarified that it has submitted a proposal for the introduction of a new banknote series, which is currently under consideration by the Federal Cabinet.
The central bank emphasized that the matter remains under deliberation and no decision has been taken regarding the replacement or discontinuation of any denomination.
The SBP stated that any such decision, if taken, will be formally communicated to the public through official channels, ensuring adequate time is given for the exchange of discontinued banknotes, if any.
The bank advised the public to rely only on official communications issued by the bank, urging them to avoid any unverified information circulating on social media.
The SBP’s statement comes amid growing concerns and speculations among the public regarding the future of the Rs10 banknote, with some reports suggesting a purported last date for its exchange.
The central bank’s denial is seen as a measure to maintain public confidence and prevent any unnecessary panic or confusion.
The SBP has a history of regularly updating the banknote series to enhance security features and improve the overall quality of currency in circulation.
The denial of the reports is part of the SBP’s ongoing efforts to ensure transparency and clarity in its operations, particularly in matters related to the management of the country’s currency.
