Two months left: People asked to exchange Rs5 notes

federal government notified that Rs5 banknotes will cease to be legal tender with effect from January 1, 2012

KARACHI: The State Bank of Pakistan (SBP) has announced that Rs5 banknotes will go out of circulation from January next year and has asked people to exchange the notes from field offices of the SBP Banking Services Corporation and branches of commercial banks by December 31 this year. “The federal government has already notified that Rs5 banknotes will cease to be legal tender with effect from January 1, 2012,” the SBP said in a statement on Friday. For the benefit of people, the SBP has supplied posters in both English and Urdu about demonetisation and exchange of Rs5 banknotes to the Banking Services Corporation and commercial banks for placement at prominent places of their field offices and branches as well as at public places.

Published in The Express Tribune, October 29^th, 2011.