Rs185 Billion Fresh Currency Notes issued by SBP for Eidul Azha – Research Snipers

Rs185 Billion Fresh Currency Notes issued by SBP for Eidul Azha

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State Bank of Pakistan has issued Rs. 185 billion fresh currency notes on the festive occasion of Eidul Azha. The fresh notes are issued through SBP’s 16 field offices of its SBP Banking Services Corporation (SBP BSC) subsidiary. Rs.168 billion currency notes were issued on Eidul Azha in 2017 while Rs. 185 billion fresh currency notes have been issued this year.

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A press release issued by State Bank of Pakistan stated, “To meet the demand for currency on the occasion of Eidul Azha, State Bank through the 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC) issued fresh notes of Rs185 billion for Eidul Azha 2018 as compared to Rs168bn issued on previous Eidul Azha.”

Rs 12 billion fresh notes have been issued of lower domination upto PKR 100 to the commercial banks of Pakistan. This is Rs 4 billion less than the fresh notes issued on previous Eidul Azha.

Also Rs. 200 billion fresh currency notes of higher denomination Rs. 500 & above will be issued to the commercial banks.