Pakistan is moving closer to introducing newly designed currency notes, as the State Bank of Pakistan (SBP) has confirmed that preparations have entered their final stage. However, contrary to public speculation, the new notes will not appear in the market immediately.
The development was confirmed by SBP Governor Jameel Ahmad during a press conference held after the latest monetary policy announcement.
State Bank Waiting for Final Cabinet Approval
According to the SBP governor, the design and preparatory work for the new banknotes is nearly complete. Once formal approval is granted by the federal cabinet, the central bank will begin printing two to three different denominations simultaneously.
Officials clarified that the proposals for the new currency designs have already been reviewed internally and forwarded to the government. These were later presented before the federal cabinet, which formed a special cabinet committee to further evaluate the matter.
New Currency Notes Will Be Introduced Gradually
One of the most important clarifications from the State Bank was that new currency notes will not be released overnight.
Instead, SBP plans to introduce them through a phased replacement process. This means the new notes will only enter circulation after the central bank has built a sufficient stock to gradually replace existing notes.
This approach aims to:
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Avoid market disruption
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Prevent confusion among the public
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Ensure smooth currency circulation nationwide
Which Denominations Will Come First? Still Unclear
While confirmation has been given that two to three denominations will be printed initially, SBP has not yet disclosed which values will be introduced first.
Currently, Pakistan has the following banknotes in circulation:
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Rs 10
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Rs 20
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Rs 50
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Rs 75
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Rs 100
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Rs 500
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Rs 1,000
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Rs 5,000
The order in which these will be replaced remains undecided.
Why the Currency Redesign Matters
Currency redesigns are not just cosmetic. Such changes are often aimed at:
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Improving security features
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Preventing counterfeiting
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Reflecting national identity and modernization
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Enhancing durability of banknotes
Although SBP has not yet revealed the new designs publicly, expectations are high that the updated notes will include advanced security elements aligned with international standards.
What Happens Next?
For now, all eyes are on the federal cabinet’s final decision. Once approval is granted:
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Printing will officially begin
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Multiple denominations will be prepared together
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A gradual rollout plan will be implemented
Until then, existing currency notes will remain fully valid and in circulation.
