The State Bank of Pakistan—SBP has rejected the reports about the discontinuation of Rs.5,000 currency notes, as per the reports of local media.
As per a spokesperson of the bank, SBP has not submitted any such proposal which could lead to the discontinuation of the Rs.5,000 currency banknote. He added that such news is baseless.
The State Bank of Pakistan further offered clarification that any such action, if there would be any, would get a proper announcement in advance and the public would be given enough time to get their currency notes exchanged via the authorized banks.
The clarification has come days after the reports circulated on social media that the State Bank of Pakistan was thinking about the discontinuation of Rs.5,000 currency notes.
Recently, the SBP has issued an honouring coin worth Rs.550 for marking the 550th anniversary of the founder of the Sikh religion—Baba Guru Nanak.
The coin is engraved with the caption of the “Islamic Republic of Pakistan” on one side while the other side has got the image of Janam Asthan Nankana Sahib.
The coin has been issued in the efforts of boosting interfaith harmony in Pakistan.