Coming to an end: Rs5 banknote to be demonetised next year
SBP urges public to trade in old notes from its offices or from commercial banks.
KARACHI:
The State Bank of Pakistan (SBP) has said the circulation of Rs5 banknote will come to an end at the start of January 2012 and has asked people to exchange it from its offices and commercial bank branches.
In addition to this, SBP has reminded people that the bigger size and old-design Rs500 banknote will cease to be legal tender from October 1 this year.
In an announcement on Friday, SBP said that for the benefit of people it had supplied posters regarding demonetisation and exchange of banknotes of Rs500 (old design) and Rs5 to SBP Banking Services Corporation and commercial banks for placement at prominent and visible places of their field offices and branches as well as public places.
The old-design Rs500 banknote was introduced on April 1, 1986 while Rs5 banknote was introduced on July 8, 2008.
Published in The Express Tribune, July 9th, 2011.
The State Bank of Pakistan (SBP) has said the circulation of Rs5 banknote will come to an end at the start of January 2012 and has asked people to exchange it from its offices and commercial bank branches.
In addition to this, SBP has reminded people that the bigger size and old-design Rs500 banknote will cease to be legal tender from October 1 this year.
In an announcement on Friday, SBP said that for the benefit of people it had supplied posters regarding demonetisation and exchange of banknotes of Rs500 (old design) and Rs5 to SBP Banking Services Corporation and commercial banks for placement at prominent and visible places of their field offices and branches as well as public places.
The old-design Rs500 banknote was introduced on April 1, 1986 while Rs5 banknote was introduced on July 8, 2008.
Published in The Express Tribune, July 9th, 2011.