Old design large size banknotes cannot be exchanged after Dec 31: SBP

December 13, 2022 (MLN): The State Bank of Pakistan (SBP) on Tuesday once again informed that the old design large size banknotes of Rs 10, 50, 100 & 1000 will not be exchangeable after December 31, 2022, the statement issued by the central bank read. 

The federal government on December 23, 2021, extended the last date for the exchange of old-designed large-size banknotes of Rs 10, 50, 100 & 1000 by one year.

The holders of these old-designed large banknotes have been given the last chance to exchange these old-designed large-size banknotes from the field offices of the SBP Banking Services Corporation (BSC) by 31st December 2022.

"It is once again emphasized that this is the last and final deadline for the exchange of such banknotes, upon expiry of which, these banknotes shall no longer be exchangeable from the counters of the SBP BSC and thus will lose their value," the statement added. 

The general public is, therefore, requested to avail this final opportunity and get their holdings of these banknotes exchanged from SBP BSC Field Offices by December 31, 2022, and protect the value of their savings in these banknotes, it noted. 

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