SBP Announces Last Date to Exchange Old Designed Banknotes

The State Bank of Pakistan (SBP) will exchange the old-style, large-size notes of the denominations of 10, 50, 100, and 1,000 rupees until December 31, 2022.

The federal government extended the deadline for exchanging old-design large-size banknotes by Gazette Notification F.No.2(1)IF-III/2010, which was published on December 23, 2021.

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The “last and final date for exchange of such banknotes” is December 31, 2022, according to a statement made today by the SBP Banking Services Corporation (BSC), after which time they will cease to be exchangeable and lose value.

Owners of these enormous, antiquated banknotes have until December 31 to exchange them at SBP BSC field offices in order to protect the value of their investments.

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