KARACHI: The State Bank of Pakistan (SBP) on Thursday explicitly den­ied social media rumours claiming the Rs10 banknote is being phased out or that there is a set deadline for its discontinuation.

The central bank said social media is trying to dispute the issue by setting a specific deadline for discontinuing the Rs10 banknote.

The SBP categorically refuted reports circulating on social media about the purported discontinuation of the Rs10 banknote and the last date for its exchange. “The reports are baseless and without substance,” said the SBP.

“The SBP has submitted a proposal to introduce a new banknote series, which is currently under consideration by the Federal Cabinet,” it said, adding that the matter remains under deliberation and that no decision has been taken on replacing or discontinuing any denomination.

“Any such decision, if taken, will be formally communicated to the public through official channels, and adequate time will be given to the public to exchange discontinued banknotes,” the SBP said.

On Aug 25, SBP Deputy Governor Dr Inayat Hussain briefed the Senate Standing Committee on Finance and Revenue, reportedly saying the SBP is considering a phased withdrawal of the Rs10 banknote because of rising printing costs. Additionally, the SBP is developing a new design for the Rs5,000 note to strengthen anti-counterfeiting measures.

Published in Dawn, September 18th, 2026