• The last day to exchange banknotes with old designs is December 31, 2022.
• Exchange these old-style banknotes at SBP BSC offices across the country.
• Between 2005 and 2008, a new set of banknotes was made.

The last day to exchange old Rs 10, 50, 100, and 1000 banknotes with old designs is December 31, 2022. You can now exchange these old-style banknotes at SBP BSC offices across the country until December 31, 2022. said state Bank authorities.

State Bank is the only bank in the country that makes banknotes. One of its key strategic goals is to make sure that there is a good supply of banknotes all over the country.

SBP takes dirty or damaged bills from the market and replaces them with new bills. Like other central banks, the SBP makes new series of banknotes from time to time and gets the Federal Government’s permission to get rid of the old ones. Section 25(2) of the SBP Act of 1956 says that the Federal Cabinet gives approval for demonetizing banknotes based on the recommendations of the SBP Board.

By making new series of banknotes and getting rid of the old ones, central banks can stop counterfeiting and make sure that the banknotes in circulation are real. Between 2005 and 2008, a new set of banknotes was made, and the old ones have been slowly taken out of circulation. So, the Federal Government has decided to stop accepting old Rs 10, Rs 50, Rs 100, and Rs 1000 bills. Since December 1, 2016, these notes are no longer a legal form of payment.

The Rs. 10, 50, 100, and 1000 Old Design Banknotes can be traded in at the offices of the SBP Banking Services Corporations until December 31, 2022.

The SBP BSC Offices in Karachi, Lahore, Peshawar, Quetta, Islamabad, Rawalpindi, Faisalabad, Multan, Gujranwala, Hyderabad, Sialkot, Sukkur, Bahawalpur, Muzaffarabad, and D. I. Khan are the places where you can exchange these banknotes.

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