It has been reported that the old designs of the Pakistani currency notes will be ineffective from the 1st December this year. The government has already issues the gazette notification on 4 June 2016 and this action is taken in the light of this gazette notification. The concerned departments have finalized that the old generation currency notes of Rs.10, 50, 100 and 1000 are completely phased out in the next coming three months. The government has changed the Rs.5 and 500 bank notes and they have been demonetized and replaced by the new designs of the note and the metallic coin. The concerned departments asked the commercial and microfinance banks to get replace the currency notes, which have old designs and they are replaced with the new one.
The government has fixed the last date to get replace the old notes with the new one, which is 30 November 2016 and the people get exchange the notes of Rs.10, 50, 100 and 1000 with the fresh one and with the coins. If the people fail to get replace their notes then they can get them changed from the BSC field offices detailed by the State Bank of Pakistan and these offices will exchange the old notes for next 5 years till 31 December 2021.
Now the people are advised to ensure the exchange of their old notes with the fresh and new one and they can exchange it as soon as possible and they will not be considered legal after this date and they have the status of just piece of paper. The State Bank of Pakistan issued the current Rs.20 note in 2005 so that they could increase the security, durability and the aesthetic quality of the currency. They also redesigned the notes of Rs.5, 10, 20, 50, 100, 500, 1000 and 5000 were finalized in 2008 and people should get them replaced with the new currency till the end of this year.
Pak Currency Old Notes
Pak Currency New Notes
