Physical Address
Islamabad, Pakistan
The State Bank of Pakistan (SBP) has rejected rumours circulating on social media that the Rs10 banknote is being discontinued or that a specific deadline has been set for exchanging the note.
According to the SBP, reports claiming that the Rs10 note is being phased out and that people must exchange it by a certain date are baseless. The central bank clarified that no decision has been made to replace or discontinue any particular denomination.
New Banknote Series Under Consideration
The SBP confirmed that it has submitted a proposal for a new series of banknotes, but the proposal is currently under consideration by the Federal Cabinet. This does not mean that existing denominations, including the Rs10 note, have already been withdrawn.
The central bank said any decision regarding the replacement or discontinuation of a denomination would be officially announced through proper channels. The public would also be given sufficient time to exchange any banknotes that are formally discontinued.
Why Did the Rumours Start?
The rumours appear to have gained attention following earlier discussions about the future of the Rs10 banknote. In August, an SBP deputy governor told a Senate committee that the central bank was considering phasing out the denomination because of rising printing costs. The meeting also discussed plans for a redesigned Rs5,000 banknote with stronger security features.
However, consideration of a possible future change should not be confused with an official decision to discontinue the Rs10 note.
Rs10 Note Remains Legal Tender
The SBP’s official information currently lists the Rs10 banknote among Pakistan’s current legal-tender banknotes. Therefore, people should not act on social-media messages claiming that the note has suddenly become invalid or that it must be exchanged before an unofficial deadline.
Public Advised to Follow Official Updates
The latest clarification highlights the importance of checking information about currency through official SBP announcements rather than unverified social-media posts. If the SBP or federal government makes any formal decision about the Rs10 denomination, details regarding implementation and exchange procedures will be communicated through official channels.
For now, the key message is clear: there is no officially announced deadline for exchanging Rs10 banknotes, and the SBP has rejected the circulating rumours
