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KARACHI: The State Bank of Pakistan (SBP) has announced on Tuesday that old design large size banknotes cannot be exchanged after 31 December 2022.

The Federal Government vide Gazette Notification F.No.2(1) IF-III/2010 dated December 23, 2021, had extended the last date for exchange of old design large size banknotes of Rs 10, 50, 100 & 1000 by one year.

The holders of these old design large banknotes have been given the last chance to exchange these old design large size banknotes from the field offices of the SBP Banking Services Corporation (BSC) by 31st December 2022.

It is once again emphasized that this is the last and final deadline for exchange of such banknotes, upon expiry of which, these banknotes shall no longer be exchangeable from the counters of the SBP BSC and thus will lose their value.

The general public is; therefore, requested to avail this final opportunity and get their holdings of these banknotes exchanged from SBP BSC Field Offices by 31st December 2022 and protect the value of their savings in these banknotes, the SBP said.

Copyright Business Recorder, 2022

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