KARACHI: In a bid to meet the demand on Eidul Fitr, the central bank has issued Rs249 billion worth of fresh currency notes.
According to the State Bank of Pakistan (SBP), it had made elaborate arrangements in this regard, with a focus to cover maximum stakeholders, including the general public. The SBP issued Rs154 billion last year.
Out of this year’s Rs249 billion, around Rs31 billion comprises lower denomination notes (up to Rs100), while banknotes worth Rs218 billion 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 Rs12 billion were issued through these two sources.
