SBP Issues Rs. 185 Billion Fresh Currency Notes On Eid-ul-Azha

To meet the demand for currency on the occasion of Eid-ul-Azha, State Bank of Pakistan through its 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC) issued fresh notes of Rs. 185 billion for Eid-ul-Azha 2018 as compared to Rs.168 billion issued on previous Eid-ul-Azha.

Out of the total fresh notes issued, Rs. 12 billion of lower denomination (upto Rs. 100) fresh notes have been provided to commercial banks as compared to Rs. 8 billion on last Eid-ul-Azha, for onward distribution among general public and account holders.

Furthermore, Rs. 200 billion of fresh & good quality ATM notes of higher denomination (Rs. 500 & above) have been issued to commercial banks for smooth operations and availability of cash in ATMs during and before Eid holidays.

  • It has always been a good ploy to meet lavish Govt. expenses, to some extent, by printing new notes on both Eids.
    No one argues why print new currency worth billions just because stupid awaam enjoys spending new notes.
    Majority is unbeknownst to the fact that it just raises inflation and you imbeciles help corrupt Governments hide their misdeeds and SBP’s criminal negligence.

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