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SBP issues Rs168b new banknotes for Eid ul-Azha

SBP issues Rs168b new banknotes for Eid ul-Azha

KARACHI: State Bank of Pakistan (SBP) has issued fresh currency notes worth Rs168 billion to meet the demand for Eidul Azha.

In a statement the SBP said that SBP Banking Services Corporation (SBP BSC) made elaborate arrangements with a focus to cover maximum stakeholders including the general public.

The SBP issued fresh banknotes of Rs. 168 billion as compared to Rs.161 billion issued on previous Eid-ul-Azha.

This included lower denomination notes (up to Rs100) of Rs8 billion and higher denomination banknotes (Rs500 and above) of Rs160 billion, which is meant for heavy payments & ATM needs of commercial banks.

To ensure maximum issuance, all 16 field Offices of the SBP BSC issued fresh notes to the general public from its counters before Eidul Azha.

In addition to this, the commercial banks were also issued lower denomination fresh bank notes worth Rs7 billion to disburse the same to the public and their accounts holders.