EidThe State Bank of Pakistan (SBP) has clarified that the country’s newly redesigned currency notes will not be introduced into circulation before the upcoming Eid-ul-Fitr, putting to rest widespread speculation and public expectations surrounding their release.
According to senior officials at the central bank, while the designs for the new currency series have already been finalized and approved internally, the printing process cannot commence until formal approval is granted by the federal cabinet. This crucial step remains pending, resulting in an unavoidable delay in the issuance of the new banknotes.
The redesigned currency notes are part of a broader initiative by the SBP to modernize Pakistan’s monetary system. The new series is expected to feature enhanced security measures aimed at combating counterfeiting, along with updated visual elements that reflect national identity and align with international standards. The changes are planned across all major denominations currently in circulation.
SBP officials emphasized that the delay does not affect the legality or usability of existing currency notes. All current banknotes will remain valid and continue to circulate normally until the new series is formally launched. Commercial banks will also continue distributing fresh notes of the existing design ahead of Eid to meet the seasonal increase in demand, particularly for traditional gift-giving.
The announcement has disappointed segments of the public who were anticipating the availability of new notes for Eid festivities, a time when demand for crisp currency typically surges. However, the central bank reiterated that procedural requirements must be completed to ensure transparency and compliance with government regulations.
Once cabinet approval is secured, the printing and nationwide distribution of the new currency notes are expected to take several additional weeks, if not months. Until then, the SBP maintains that ensuring economic stability and maintaining public confidence in the monetary system remain its top priorities.
