SBP disavows any new currency designs doing rounds on internet

KARACHI: The State Bank of Pakistan (SBP) has Monday denied rolling out any new currency designs that have been floating on the social media dubbed as officially endorsed variants, ARY News reported.

The central bank took to its official Twitter account and clarified its status on the situation, “Some fake news regarding new designs of currency notes is circulating on social media.”

Some fake news regarding new designs of currency notes is circulating on social media. #SBP categorically denies the news and clarifies that no such proposal is under consideration at the moment. pic.twitter.com/Dnt1Yb3QRP

— SBP (@StateBank_Pak) November 8, 2021

The central bank denied any such update charting out from its offices thus intimating people it holds no truth or authority.

“SBP categorically denies the news and clarifies that no such proposal is under consideration at the moment.”

Rupee extends losses against US dollar in intra-day trading

Separatey today from the central bank, the Pakistani rupee extended losses against the US dollar in the interbank currency market on the first trading day of the week.

According to forex dealers, the local unit today depreciated by 29 paisas and is now trading at Rs170.30 against the greenback.

Key to note is that on Friday, the rupee snapped its 10-day winning streak after it depreciated by 4 paisas to Rs170.1 against the US dollar.