SBP issued Rs363bn fresh currency notes this Eid

The State Bank of Pakistan (SBP) provided fresh bank notes of various denominations aggregated to Rs 363 billion on Eid ul Fitr.

In a press statement released, the country’s central bank stated that the demand for fresh currency this Eid increased by 50 percent.

“The State Bank of Pakistan (SBP) through its 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC) provided fresh banknotes of various denominations aggregated to Rs. 363 billion, including Rs 53 billion of fresh notes directly to the general public leading to Eid-ul-Fitr,” stated SBP.

The SMS service (8877) was operated across 132 cities through more than 1,500 commercial banks’ branches and 16 field offices of SBP BSC. The service was used by more than 2.2 million people before Eid-ul-Fitr, a 50pc increase from last year.

The SBP informed that sufficient quantity of fresh notes of higher denominations were also issued to banks for smooth operations and availability of cash in ATMs during and before Eid Holidays, and special teams of SBP and SBP BSC officials were also deputed for this purpose, to inspect and monitor the working of ATMs across Pakistan, which ensured uninterrupted availability of cash to the general public during Eid holidays.