'Rs75 commemorative banknote has no expiry date,' clarifies SBP

Reacting to the rumours circulating in some sections of society about the demonetisation of the Rs75 commemorative banknote, the State Bank of Pakistan (SBP) on Friday clarified that the commemorative banknote has no expiry date and can be used in all transactions.

SBP’s spokesperson Abid Qamar — in a video message shared on the central bank's Twitter handle — said that the Rs75 banknote has legal status just like other currency notes.

He noted that the Rs75 commemorative banknote was issued last year to mark the country’s 75 years of independence.

“The SBP issues all currency notes under Section 25 of its Act,” he added.

The spokesperson said that the Rs75 commemorative banknote is a legal tender and can be used as a medium of exchange in all transactions.

He further said that there is no truth to the rumours claiming that the government has discontinued or withdrawn the banknote.

It is pertinent to mention here that the shopkeepers refused to receive Rs75 notes in most parts of the country amid Eid ul Fitr, triggering rumours about the demonetisation of the banknote.