KARACHI: The State Bank of Pakistan (SBP) said has issued Rs249 billion fresh currency notes to meet the high demand of people on the holy event of Eidul Fitr.
The central bank said it had made elaborate arrangements in this regard, with a focus to cover maximum stakeholders, including the general public. The SBP issued Rs154bn last year.
Out of this year’s Rs249bn, around Rs31bn comprises lower denomination notes (up to Rs100), while banknotes worth Rs218bn of higher denomination were issued to meet heavy payments and ATM needs of commercial banks.
To ensure maximum issuance, all 16 field offices of the SBP Banking Services Corporation (BSC) issued fresh notes to the general public from its counters during Ramazan. In addition, SBP-BSC established its own counters in 150 designated branches of commercial banks. Fresh banknotes valuing Rs12bn were issued through these two sources.
Moreover, commercial banks across the country provided fresh banknotes worth Rs16bn of lower denomination to their account holders and walk-in customers.
