KARACHI: As the end of Ramazan approaches, Pakistanis are eagerly anticipating the celebration of Eid-ul-Fitr, which involves the tradition of giving money as a gift to loved ones, especially children.
In past years, the State Bank of Pakistan (SBP) has issued fresh currency notes of different denominations to facilitate this tradition. However, due to the COVID-19 pandemic, the issuance of new notes was halted in recent years.
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Currently, rumors are circulating that if the SBP does not issue fresh currency notes ahead of Eid 2023, it could lead to an economic meltdown for banks. However, it is important to note that these rumors are just speculation.
Sources suggest that the SBP will announce its decision on the issuance of new notes in the coming days. If the decision is made to issue fresh notes, people will be able to obtain them easily by sending an SMS.
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In the past, the high demand for fresh currency notes has resulted in a black market where notes are sold at a high price. If the SBP does decide to issue new notes, it will likely prevent the illegal trading of currency notes and alleviate the demand for black market notes.
Overall, Pakistanis are eagerly waiting for the State Bank of Pakistan’s decision on the issuance of fresh currency notes for Eid-ul-Fitr 2023. It will not only facilitate the celebration of the festival but also prevent illegal trading of currency notes.
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