Wednesday, September 02, 2015

SBP denies plans to introduce 10,000 Rupee note

According to a SBP (State Bank of Pakistan) press release of August 18th, 2015, SBP "categorically denies the news item reported in a section of press and electronic/social media regarding its plans to issue new banknote of Rs. 10,000/- The SBP has no plans whatsoever for issuance of any higher denomination banknote as seven denominations of existing banknotes are adequately meeting the business/transactional needs of the economy." At present the largest denomination remains the 5,000 rupee note.