State Bank Clarifies Status of Rs10 Note

The State Bank of Pakistan has issued a clarification on the reports circulating on social media regarding the Rs10 currency note.

The State Bank of Pakistan has said that no deadline has been set for the replacement of Rs10 notes. There is no official basis for the reports coming out in this regard.

According to the central bank, the proposal to introduce a new banknote series is under consideration by the federal cabinet. However, it is not correct to link this process with the immediate withdrawal of any existing note.

The State Bank clarified that no decision has been taken to discontinue or replace any currency note of any denomination. Therefore, citizens should not rely on unconfirmed messages circulating about the Rs 10 note.

Progress regarding the new currency series is already underway. The State Bank had also organised an art competition for the design of new banknotes in 2024. The aim of this initiative was to get possible designs of notes of different denominations for the new series.

The clarification issued by the central bank is aimed at removing ambiguity about the current situation. The future decision regarding the legality of a note or its withdrawal will be communicated officially by the relevant authorities.

The important thing for citizens at present is that no new deadline has been set for the exchange of Rs 10 notes. Any future changes will be communicated through official channels.