Rs5000 currency notes not being discontinued: SBP

KARACHI: The State Bank of Pakistan (SBP) has rejected the reports regarding the discontinuation of Rs5,000, Rs1000 and Rs500 currency notes, ARY News reported on Tuesday.

“SBP has not submitted any such proposal which could result in discontinuation of the 5,000 Rupees banknote. Such news items circulating on social media are baseless,” said a spokesperson of SBP.

SBP further clarified that any such action is announced well in advance and the public is given ample amount of time to get their currency notes exchanged through the authorized banks.

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The clarification comes days after reports circulated on social media that the SBP was considering to discontinue Rs5000 currency notes.