Karachi, November 14, 2023 – The State Bank of Pakistan (SBP) has taken a significant step towards standardizing the banknote sorting parameters of processing machines, ensuring uniformity across various models and makes.
Amidst heated debates surrounding the demonetization of the Rs 5000 banknote in Pakistan, particularly in the wake of a recent fake news episode, the question of why Pakistan should consider phasing out this high-denomination currency looms large.
Foreign investors have suggested the authorities in Pakistan to demonetize Rs5,000 banknote in order to promote cashless economy.
State Bank of Pakistan
KARACHI: The State Bank of Pakistan (SBP) on Friday directed all commercial banks and microfinance banks to display messages to create awareness in general public regarding last date for exchanging old design banknotes. The SBP said that the last date for exchanging the old banknotes of denominations of Rs10, 50, 100 and 1000 is December […]
KARACHI: State Bank of Pakistan (SBP) has extended the date for banks regarding issuance of machine authenticated Rs50 banknotes. In a notification issued on Thursday, the central bank said that considering the difficulties faced by banks in machine processing of lower denomination banknotes under the Currency Management Strategy (CMS), it had been decided to extend […]
KARACHI: State Bank of Pakistan (SBP) on Tuesday said it has all the records related to destructed old design Rs500 banknotes. The central bank also denied media report about record missing of such banknotes. In a statement, the SBP said that apropos news item appearing in a section of media regarding unavailability of record pertaining […]
KARACHI: State Bank of Pakistan (SBP) will issue bank notes bearing signature of SBP Governor Dr. Reza Baqir from August 30, 2019. A statement issued by the central bank on Thursday said that it will start issuing banknotes bearing the signature of SBP Governor Dr. Reza Baqir with effect from August 30, 2019 from the […]