The State Bank of Pakistan has decided to introduce new  banknotes of all denomination with new design and features, a move that will prove a setback for those stashing black money in the country. 

Jamil Ahmed, Governor of the State Bank of Pakistan, revealed it today, saying competitions will be organized in February for their design. 

He said that the new banknotes will carry international standard features to curb flow of fake currency notes in the country. He said all matters related to launch of the new currency will be finalized by March 2024. 

He also said that the notes will not be replaced at once, like India did, where such decision caused chaos.

These will be identified in the MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™ as follows:

      10 rupees             PKR10.3

     20 rupees             PKR20.2

     50 rupees             PKR50.3

   100 rupees          PKR100.3

   500 rupees         PKR500.4

1,000 rupees      PKR1,000.3

5,000 rupees     PKR5,000.3

Source: Daily Pakistan.

Courtesy: Alex Zlotin.

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