SBP announces issuing new banknotes this year
Business
These new notes will gradually replace the current series
ISLAMABAD (Web Desk) - The Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, announced on Monday that the central bank plans to issue new currency notes starting in the second half of 2025.
These new notes will gradually replace the current series, one denomination at a time, with improved security features.
Ahmad explained that the SBP aims to secure approval from the federal cabinet for the new notes within the next two to three months, ideally before June 2025.
The rollout will occur gradually, with each denomination being introduced separately rather than all at once.
However, Ahmad did not specify which denomination would be released first, stating that the decision is yet to be made. Currently, Pakistan’s currency notes include denominations of Rs10, Rs20, Rs50, Rs100, Rs500, Rs1,000, and Rs5,000.
He emphasized that the new notes will not enter circulation before the start of the 2025-2026 fiscal year, which begins in July 2025.
