SBP sets deadline to exchange old-design banknotes

KARACHI: The State Bank of Pakistan (SBP) Tuesday announced that December 31, 2022, will be the last date for exchanging old banknotes of Rs. 10, 50, 100, and 1,000.

“The last date to exchange old designed large-size banknotes of Rs 10, 50, 100 & 1000 is December 31, 2022. These old-design banknotes can be exchanged from the counters of SBP Banking Service Corporation (BSC) offices across the country till December 31, 2022,” the SBP said in a Tweet.

The central bank mentioned that the old currency notes are exchangeable from the offices of the SBP Banking Services Corporations.

“The Old Design Banknotes of Rs. 10, 50, 100, and 1000 are exchangeable from the offices of the SBP BSCs located at Karachi, Lahore, Peshawar, Quetta, Islamabad, Rawalpindi, Faisalabad, Multan, Gujranwala, Hyderabad, Sialkot, Sukkur, Bahawalpur, Muzaffarabad and D. I. Khan,” it added.

The last date to exchange old designed large size banknotes of Rs 10, 50, 100 & 1000 is December 31, 2022. These old design banknotes can be exchanged from the counters of #SBP BSC offices across the country till December 31, 2022. Details: https://t.co/g8oJf1kmhs pic.twitter.com/Xk6ma63UxQ

— SBP (@StateBank_Pak) October 25, 2022

It is pertinent to mention here that the federal government in 2016 had banned the use of old design currency notes having value of Rs10, Rs50, Rs100 and Rs1,000.