SBP Plans to Replace Rs10 Note With Coin
Rs10 Banknote Set for Replacement Under Pakistan’s New Currency Plan
ISLAMABAD: (Finance Reporter) – The State Bank of Pakistan (SBP) has announced plans to replace the Rs10 banknote with a Rs10 coin as part of the issuance of a new series of currency notes.
The development was disclosed during a meeting of the Senate Standing Committee on Finance, where SBP Deputy Governor Dr Inayat Hussain briefed lawmakers about the upcoming changes to Pakistan’s currency system.
Dr Inayat said the Rs10 note would eventually be withdrawn and replaced by a coin once the new series of currency notes is introduced.
He explained that the rising cost of producing the Rs10 banknote was one of the key reasons behind the decision to replace it with a coin.
However, the existing Rs10 notes will not be withdrawn immediately. According to the SBP official, the transition will take place after the new currency notes are issued.
The announcement means the Rs10 denomination will continue to circulate in note form for the time being, before gradually making way for the new coin.
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