State Bank of Pakistan not to distribute new currency notes on Eid ul Fitr
The State Bank of Pakistan has decided to deviate from its
customary practice of issuing new currency notes during Eid al-Fitr, surprising
the public who eagerly anticipate fresh notes for their Eidi celebrations.
This departure from tradition by the central bank contrasts
with the issuance of new currency notes during the previous two Eids, leaving
many disappointed.
State
Bank of Pakistan (SBP) planning to introduce new currency notes
Private banks, aligning with the State Bank's policy, are
refraining from distributing new currency notes as Eid approaches.
Consequently, a currency black market has emerged, with bundles of new notes
being sold near the State Bank Building.
The State Bank has yet to make an official announcement
regarding this situation. Typically, during this period, the black market
experiences heightened activity, resulting in inflated prices for banknotes due
to high demand. Dealers often charge an additional Rs 200-300 for a bundle of
Rs 10 notes.
Source: Bol News