New designs prepared for notes from Rs10 to Rs5,000, says SBP Governor
ISLAMABAD: Governor of the State Bank of Pakistan (SBP) has clarified that there is no proposal to discontinue the Rs5,000 currency note, while confirming that new designs for all banknotes ranging from Rs10 to Rs5,000 have already been prepared.
Addressing a meeting of the Senate Standing Committee on Finance in Islamabad, the SBP governor said the proposed designs have been shared with the Ministry of Finance for further consideration.
He informed the committee that the central bank carried out detailed work on the new currency notes, after which the proposals were approved by the SBP Board and forwarded to the federal cabinet.
The SBP governor added that the new notes include advanced security features aimed at preventing counterfeit currency. He emphasized that the final decision rests with the federal cabinet.
Responding to speculation, the governor clearly stated that no proposal is under review to withdraw the Rs5,000 note.
