Are you holding on to old currency notes of Rs. 10, Rs. 50, or Rs. 1,000? If so, you’re in luck as the State Bank of Pakistan has extended the deadline for exchanging these notes. The Federal government has given approval for the extension, which now allows the public to exchange their old notes until December 31, 2022.
This is great news for those who may have missed the earlier deadline or were unable to exchange their old notes due to various reasons. The State Bank of Pakistan has made it easy for people to exchange their old notes by opening BSC offices in various cities, including Lahore, Karachi, Islamabad, Rawalpindi, Muzaffarabad, DI Khan, Bahawalpur, Sukkar, Sialkot, Hyderabad, Quetta, and Multan.
The State Bank of Pakistan collects soiled, damaged, or unfit notes and replaces them with new currency notes. The Central bank issues new series of bank notes from time to time and demonetizes the old series with the approval of the Federal government. The new series of bank notes was issued between 2005 and 2008, and the old series notes have been slowly phased out from circulation.
It’s important to note that after December 31, 2022, all notes of Rs. 10, Rs. 50, and Rs. 1,000 will not be acceptable. Therefore, it’s imperative to exchange these old notes before the deadline.
If you’re unsure about the process of exchanging your old currency notes, don’t worry. The State Bank of Pakistan has made it a straightforward process. All you need to do is visit one of the designated BSC offices and present your old notes. The bank officials will then check the notes and provide you with the new currency notes in exchange.
In conclusion, the State Bank of Pakistan has extended the deadline for exchanging old currency notes of Rs. 10, Rs. 50, and Rs. 1,000. This is a great opportunity for the public to exchange their old notes before they become invalid. Make sure to exchange your old notes before December 31, 2022, and enjoy the convenience of using new currency notes.