State Bank of Pakistan Exchange of Old Notes in Pakistan 2022
State Bank is the sole issuer of banknotes in the country
ensuring an adequate supply of good quality banknotes across the country is
among its key strategic goals. SBP collects soiled and unfit banknotes from
the market and replaces them with fresh banknotes. Like other central banks,
SBP issues new series of banknotes from time to time and demonetizes the
earlier series with the approval of the Federal Government. Further, the permission
for the demonetization of banknotes is granted by Federal Cabinet on the recommendations
of the SBP Board in terms of section 25(2) of the SBP Act, 1956.
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| Photo by State Bank of Pakistan SBP |
Demonetization of Old Design Banknotes
The issuance of new series and demonetization of the old design
banknotes helps central banks in checking to counterfeit and ensuring the
integrity of banknotes in circulation. The new series of banknotes was issued
from 2005 to 2008 and the old design banknotes have been slowly phased out from
circulation. The Federal Government has therefore decided to demonetize old
design banknotes of Rs 10, 50, 100, and 1000. These notes have ceased to be
Legal Tender effective from 1st December 2016.
Exchange Your Old Design Notes Before 31st Dec 2022
The Old Design Banknotes of Rs. 10, 50, 100, and 1000 are
exchangeable from the SBP Banking Services Corporations offices up
till 31st December 2022.
New Currency Notes of Pakistan
These banknotes are
exchangeable from SBP BSC Offices located
at Karachi, Lahore, Peshawar, Quetta, Islamabad, Rawalpindi, Faisalabad, Multan, Gujranwala, Hyderabad, Sialkot, Sukkur, Bahawalpur, Muzaffarabad and D. I.
Khan.
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