KARACHI – The State Bank of Pakistan has announced its plans to introduce new currency notes with international security features.
The central bank governor said the upcoming notes will have international security features, including new serial numbers, designs and enhanced security measures.
Providing an estimated timeline for the availability of the new notes, he noted that the design framework is already underway and is expected to be finalized by March.
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However, the SBI governor clarified that the transition process would not reflect India’s sudden demonetization in 2016, which caused significant social unrest and a temporary hit to quarterly GDP.
India has since experienced steady growth and a shift towards digital payments, resulting in lower inflation and moderate interest rates for economic expansion.
The central bank is taking this step in response to concerns about circulating fake currency.
