SBP refutes rumours, billions in fresh banknotes already issued for Eid

ISLAMABAD: The State Bank of Pakistan (SBP) has dismissed rumours circulating on social media and some news outlets regarding the non-issuance of fresh banknotes for Eid.

In a statement, the central bank clarified that these reports are baseless, confirming that billions in new currency have already been issued.

This clarification will bring relief to those concerned about not being able to distribute crisp new notes as “Eidi” to children and loved ones.

The SBP has so far provided Rs27 billion worth of fresh banknotes in various denominations to 17,000 branches of commercial banks for distribution to the public.

The SBP reaffirmed its commitment to its long-standing tradition of issuing fresh notes for Eid-ul-Fitr, using commercial banks’ widespread branch networks to ensure easy access for the public.

The central bank also assured that arrangements are in place to ensure that ATMs continue to dispense quality banknotes throughout the festive season.

Read next: Rs3.4 billion to be spent on machine upgrade for new Pakistani banknotes