KARACHI: The State Bank of Pakistan (SBP) said on Tuesday that from December 31, 2022, old design large size banknotes may no longer be exchanged.
According to a press release from the central bank, the federal government extended the deadline for exchanging old design large size banknotes of Rs. 10, 50, 100, and 1000 by one year in Gazette Notification F.No.2(1)IF-III/2010 dated December 23, 2021.
The holders of these old design large banknotes have been given one last chance to exchange them at SBP Banking Services Corporation (BSC) field offices by December 31, 2022, according to the announcement.
It is reiterated once more that this is the last and final opportunity to exchange these banknotes, after which they will no longer be accepted at SBP-BSC (Banking Services Corporation) counters and would hence lose value.
To safeguard the value of their deposits, the general public is invited to utilise this final opportunity to exchange their holdings of these banknotes at SBP-BSC field offices before December 31, 2022.
