SBP dismisses Rs10 note exchange deadline rumours

The State Bank of Pakistan (SBP) has rejected rumours claiming that there is a deadline for exchanging Rs10 currency notes, describing the reports as baseless and contrary to the facts.

In a statement issued from Karachi, the central bank said the federal cabinet is currently considering the SBP’s proposal regarding the introduction of a new series of banknotes.

The State Bank clarified that no decision has been taken to withdraw, discontinue or replace currency notes of any denomination. It said reports suggesting that people must exchange their Rs10 notes by a specific deadline are therefore incorrect.

The clarification comes amid reports circulating on social media and other platforms about the alleged withdrawal of Rs10 notes. The SBP urged the public not to pay attention to such unverified claims and rely on official announcements regarding any changes to the country’s currency system.

The central bank further explained that any decision concerning the withdrawal or replacement of existing banknotes would be formally communicated through official channels. Until such a decision is announced, existing currency notes remain unaffected.

The SBP’s clarification is aimed at addressing public concerns and preventing confusion among citizens over the status of Rs10 banknotes. It reiterated that no denomination has so far been officially declared for withdrawal or replacement.