Public advised to exchange old-designed Rs 500 banknote

The State Bank of Pakistan (SBP) has advised the general public to exchange the old-design and bigger-size banknote of Rs 500/- from the field offices of SBP Banking Services Corporation and the branches of all commercial banks throughout the country upto 30th September, 2011.
It may be recalled that the federal government has earlier notified that the old-design banknote of Rs 500/- (introduced in April 1986) will cease to be the legal tender and not exchangeable with effect from 1st October, 2011.