Black market for new currency notes emerges

RAWALPINDI:

As Eidul Fitr approaches, the black market sale of bundles of new currency notes has begun in exchange-rate markets.

Shopkeepers have set up stalls and handcarts in markets and are openly selling bundles of new currency notes. In the open markets of Raja Bazaar, Saddar and Commercial Market, a bundle of Rs10 notes worth Rs1,000 is being sold for Rs1,500, with an additional Rs500 being charged.

Meanwhile, a bundle of old Rs10 notes is being sold for Rs1,300.

A bundle of Rs20 notes worth Rs2,000 is being sold for Rs2,600, with an additional Rs600 charged.

Similarly, twenty notes of Rs50 are being sold for Rs1,300, while ten new Rs100 notes are being sold for Rs1,400.