ISLAMABAD, Nov 2 (APP): The old design banknotes will cease to be legal tender with effect from December 1 and it has been decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000. The Rs 5 banknote and the old design Rs 500 banknote have already been demonetized. According to a statement of State Bank of Pakistan issued on Wednesday, the decision in this regard has been taken as per Federal Government’s Gazette Notification issued on June 4, 2015. It is worth mentioning that the State Bank of Pakistan issued a new design banknote series which started with the issuance of Rs 20 denomination banknote in 2005 to improve the security, durability and aesthetic quality of banknotes.
National News
Old Design Banknotes to be ceased to be legal tender from Dec 1
