The State Bank of Pakistan (SBP) will start issuing banknotes bearing the signature of SBP Governor, Jameel Ahmad with effect from December 29, 2022, from the offices of SBP Banking Services Corporation.
In this regard, the central bank issued a circular dated December 28th, 2022, notifying Thursday (today) as the day when the new banknotes will be issued on schedule. The banknotes bearing the signatures of the governor’s predecessors will continue to remain in circulation as legal tender.
#SBP to start issuing banknotes bearing the signature of Governor SBP, Jameel Ahmad, with effect from December 29, 2022.
PR: https://t.co/BpA3JwiRmS— SBP (@StateBank_Pak) December 28, 2022
Also, SBP is scheduled to go ahead with its earlier decision for exchanging old banknotes of Rs. 10, 50, 100, and 1,000. The last date to exchange old designed large-size banknotes of Rs 10, 50, 100, and 1000 is December 31, 2022.
State Bank is the sole issuer of banknotes in the country and collects soiled and unfit banknotes from the market and replaces them with fresh banknotes. Like other central banks, SBP issues new series of banknotes from time to time and demonetizes the earlier series with the approval of the Federal Government.
