Will SBP Issue Fresh Bank-Notes for Eid this Year?

The State Bank of Pakistan (SBP) has officially refuted claims suggesting that it is not issuing fresh banknotes. In a statement released on Tuesday, the central bank reiterated its commitment to distributing new currency notes to commercial banks in preparation for Eid-ul-Fitr. This distribution is facilitated through a wide network of bank branches across the country to ensure easy access for the public.

Specifically, the SBP reported that it has already issued Rs. 27 billion in fresh banknotes of various denominations to 17,000 commercial bank branches for distribution. Furthermore, the central bank assured the public that measures are in place to maintain uninterrupted ATM services, ensuring the availability of high-quality banknotes throughout the festive season.

To enhance the distribution process and guarantee that fresh banknotes are readily available at all commercial bank branches, the SBP has deployed cash monitoring teams. These teams will conduct onsite inspections to ensure that the fresh currency reaches the public as intended.

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