The State Bank of Pakistan (SBP) has made a principled decision to issue new currency notes of all denominations in the country, a move that will improve the security and design of the banknotes.
According to the Governor of SBP, Jamil Ahmed, the new notes will be printed with international security features and will have new serial numbers, designs, and high-security features. He said that the new notes will be introduced gradually and will replace the old ones in circulation.
The SBP has been issuing new banknote series since 2005, starting with the 20 rupee denomination and followed by 50, 100, 500, 1000, and 5000 rupees. The new notes have enhanced security features and improved durability. The SBP also issued a commemorative 75 rupee note in 2023 to mark the 75th anniversary of the country’s independence.
The SBP is the sole authority to issue banknotes in Pakistan and is responsible for regulating the currency and credit system of the country. The SBP also aims to educate the public about the features and characteristics of the banknotes and coins through its website and awareness campaigns.