The State Bank of Pakistan has rejected reports circulating on social media claiming that the Rs10 banknote is being discontinued and that a specific deadline has been set for exchanging the denomination. The central bank said the reports are baseless and have no substance, advising the public to rely on official communications for information concerning Pakistan’s currency and banknotes.
The clarification came after social media reports began circulating about the alleged withdrawal of the Rs10 banknote. These reports reportedly included claims about a last date by which members of the public would have to exchange the denomination. The State Bank of Pakistan categorically denied the information and clarified that no such decision has been announced.
The central bank explained that it has submitted a proposal for introducing a new series of banknotes. However, the proposal is currently under consideration by the Federal Cabinet. The matter remains under deliberation, meaning that the government has not yet taken a final decision concerning the replacement or discontinuation of any particular banknote denomination.
The clarification is important for currency users because the circulation of information about a possible banknote withdrawal can create uncertainty among members of the public, businesses and financial institutions. The State Bank of Pakistan has therefore made clear that the existence of a proposal for a new banknote series should not be interpreted as a decision to discontinue the Rs10 note or any other denomination.
According to the central bank, if a decision is eventually taken to replace or discontinue any denomination, the public will be informed through official channels. The State Bank of Pakistan also said adequate time would be provided for exchanging any banknotes that are formally discontinued. This means holders of a denomination would not be expected to act on unofficial deadlines circulated through social media.
The proposed new banknote series remains subject to the government’s consideration. Until a formal decision is made and communicated, existing denominations continue to be governed by the applicable arrangements of the State Bank of Pakistan. The central bank’s latest statement specifically addresses the Rs10 banknote reports and rejects the claims about its immediate discontinuation and an exchange deadline.
The issue also highlights the importance of distinguishing between a proposal and an approved currency policy. A proposal for a new series of banknotes does not by itself mean that existing notes have been withdrawn from circulation. Any changes to the status of currency denominations would require formal communication through the relevant official channels.
The State Bank of Pakistan has advised members of the public to rely only on official announcements issued by the central bank when seeking information about banknotes and currency-related decisions. This guidance is particularly relevant when claims about exchange deadlines or the withdrawal of specific denominations circulate through social media without confirmation from the relevant authorities.
For now, the reports concerning the discontinuation of the Rs10 banknote remain unsubstantiated, according to the State Bank of Pakistan. The central bank has confirmed that a new banknote series has been proposed and is being considered by the Federal Cabinet, but no decision has been taken regarding the replacement or discontinuation of any denomination.
If such a decision is approved in the future, the State Bank of Pakistan has indicated that it will formally communicate the details to the public and provide sufficient time for the exchange of any discontinued banknotes. Until then, the public has been urged not to rely on unofficial claims or purported exchange deadlines shared on social media and instead consult the central bank’s official communications for verified information.
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