Is Rs.10,000 banknote in offing in Pakistan?

Is Rs.10,000 banknote in offing in Pakistan?

KARACHI - The rumours were rife on the social media of issuance of Rs 10,000 banknote in Pakistan by the State Bank.

However the State Bank of Pakistan refuted such rumours circulating on the social media regarding the issuance of a Rs10,000 banknote.

In a press release issued today the central bank stated that the 'existing banknote denominations satisfactorily meet the payment, settlement and other allied needs of the economy.'

The social media has been abuzz with rumours regarding the issuance of a new 10,000-rupee currency note by the central bank. The rumours have been denied by the State Bank of Pakistan.

The SBP further said that there was no need for issuing higher denomination banknotes.

"The general public is advised to not pay heed to such rumors and check the authenticity of any news item related to banknotes on the SBP website and its social media accounts," said the press release.

The central bank advised the public to verify such rumours from updates available on its website and social media accounts.