The State Bank of Pakistan decided on Monday to manufacture new currency notes of all denominations in the latest effort to combat corruption and maintain openness.
The central bank stated that the new currency notes would have fresh designs, serial numbers, and the most up-to-date security measures.
SBP Governor Jameel Ahmed announced that currency notes with new designs and characteristics will be released in response to a significant increase in complaints about counterfeit currency notes.
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Pakistan’s New Currency Notes Update
The State Bank head stated that the central bank has begun the process of developing new currency notes.
Jameel Ahmad believes that new currency notes will be produced on material that incorporates the most recent international security features to improve the security of legal tender.
Earlier, Pakistani senators advocated for a ban on the Rs5,000 currency note. A motion was introduced in the Upper House of Parliament calling for a ban on the highest denomination due to corruption, terrorism, and smuggling.
It was alleged that Rs5000 currency notes worth Rs2 trillion were not in circulation and were kept in safe deposit.
