Is the Rs10 banknote being discontinued?
Pakistan: The State Bank of Pakistan (SBP) has rejected social media reports claiming that the Rs10 banknote is being discontinued or that a deadline has been announced for exchanging the denomination.
The central bank said the reports were “baseless” and clarified that no decision has been taken to replace or discontinue any denomination. It advised the public to rely only on official SBP communications.
What is the status of the proposed new banknote series?
The SBP said it has submitted a proposal for introducing a new banknote series, which is currently under consideration by the federal Cabinet. The matter remains under deliberation, and any decision on replacing or discontinuing existing notes will be formally announced through official channels.
The clarification follows earlier remarks by SBP Deputy Governor Dr Inayat Hussain before the Senate Standing Committee on Finance that the central bank was considering discontinuing the Rs10 note because of rising production costs. The SBP said any discontinued denomination, if approved in the future, would be subject to a formal public announcement and an adequate exchange period.