Islamabad: State Bank of Pakistan Deputy Governor Dr Inayat Hussain has said that the central bank is considering withdrawing the Rs10 currency note from circulation.
Speaking at a meeting of the Senate Standing Committee on Finance, Dr Inayat Hussain briefed lawmakers about the proposed new currency notes.
He said the State Bank had previously attempted twice to discontinue the Rs10 note. According to him, the cost of producing the Rs10 banknote has increased, which is one of the reasons behind the proposal to withdraw it.
The deputy governor clarified that the Rs10 note would be discontinued when the new series of currency notes is introduced.
The State Bank’s proposal is therefore linked to the planned issuance of new banknotes rather than an immediate withdrawal of the existing Rs10 notes from circulation.
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