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Thursday, March 28, 2024

Exchange of old currency notes deadline extends by Govt.

The deadline for exchanging obsolete banknotes in the denominations of Rs10, Rs50, Rs100, and Rs1000 has been extended by one year, to December 31, 2022.

“Deadline for exchange of old design banknotes of Rs10, 50, 100 and 1000 has been extended till 31Dec22. Public can exchange old banknotes with new ones from SBP(BSC) offices. Old banknotes are no more legal tender and cannot be used in transactions,” the SBP said.

 

Previously, the deadline for exchanging outdated notes was December 31, 2021.

The decision was made at the request of Pakistan’s State Bank.

The former design banknotes will be cancelled, according to a federal government gazette declaration issued on December 23, 2021. People will not exchange them after the expiration date.

“This is the final extension in the date of exchange of these banknotes granted by the Federal Government and public is advised to avail this opportunity and exchange their old design banknotes through SBP BSC Offices till December 31, 2022,” the statement by Government.

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