SBP issues Rs 161 billions fresh notes on Eid

SBP issues Rs 161 billions fresh notes on Eid

KARACHI: (APP) State Bank of Pakistan (SBP) has issued fresh banknotes of Rs 161 billion for meeting the increasing demand for fresh banknotes on the occasion of Eid-ul-Azha.

Last year Rs 116 billion were issued on this occasion.

SBP Banking Services Corporation (SBP BSC) made elaborate arrangements with a focus to cover maximum stakeholders including the general public, SBP statement here Saturday said.

These notes included lower denomination notes (up to Rs 100) of Rs 20 billion and higher denomination banknotes ( Rs 500 and above) of Rs 141 billion, which is meant for heavy payments and ATM needs of commercial banks.

For ensuring maximum issuance, all 16 field offices of the SBP BSC issued fresh notes to the general public from its counters before Eid-ul-Azha. In addition to this, the commercial banks were also issued lower denomination fresh bank notes worth Rs 18.0 billion to disburse the same to the public and their accounts holders.