Fresh currency notes have begun circulating in Pakistan for Eid-ul-Fitr this week, but some traders are selling them in black markets at inflated prices, despite assurances from the State Bank of Pakistan (SBP) that notes would be fairly available through official channels.
ProPakistani confirmed through several market sources that shopkeepers and street vendors in major markets across several cities have set up stalls and handcarts selling bundles of new notes at higher-than-face-value rates.
A bundle of Rs. 10 notes worth Rs. 1,000 is being sold for Rs. 1,500-1,600, with an extra Rs. 500-600 charged.
Similarly, old Rs. 10 notes worth Rs. 1,000 are selling for Rs. 1,300-1,400.
Bundles of Rs. 20 notes worth Rs. 2,000 are being sold for more than Rs. 2,500.
Twenty Rs. 50 notes cost Rs. 1,300-1,400 at local vendors, while ten new Rs. 100 notes are being sold for around Rs. 1,400-1,500.
Citizens should avoid purchasing notes from unauthorized sellers and obtain fresh currency only from official bank branches or ATMs, following the SBP’s procedures. The central bank continues to distribute billions of rupees in fresh notes nationwide and will likely set up monitoring teams to ensure fair and transparent access for the public.
The SBP has also provided a helpline for citizens seeking guidance:info@sbp.org.pk or +92-21-111-727-273, with official updates available at www.sbp.org.pk.
Officials warned that buying notes from black-market vendors not only inflates costs but also violates banking regulations, and legal action may be taken against offenders.
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