Saturday January 28, 2023

Exchange old banknotes by Dec 31

By Our Correspondent
December 06, 2022

KARACHI: The State Bank of Pakistan (SBP) on Monday said old design large size banknotes would not be exchanged after December 31, 2022.

On December 23, 2021, the government had extended the last date for exchange of old design large size banknotes of Rs10, 50, 100, and 1000 by one year.

“The general public is requested to avail this final opportunity and get their holdings of these banknotes exchanged from the field offices of Banking Services Corporation (BSC) by 31st December 2022 and protect the value of their savings in these banknotes,” the SBP said in its statement.

The central bank emphasised that December 31, 2022 was the last and final deadline for exchange of such banknotes, upon expiry of which, the banknotes shall no longer be exchangeable from the counters of the SBP BSC and thus they will lose their value.