Pakistan central bank says Rs5 currency notes to be cancelled from Dec 31

Karachi: The currency note of rupees five denomination would be no more in circulation from December 31, 2011 and after that the Rs5 denomination coins will be in circulation.

The State Bank of Pakistan (SBP)  announced on Friday said that the Rs5 denomination notes were being cancelled and the cancellation will take effect from December 31, 2011. The Rs5 denomination coins which are already in circulation, will be the substitute of the currency notes.

The SBP has asked the general public to change the currency notes of Rs5 denomination till December 31, 2011.

These notes can be changed at the field offices of SBP Banking Service Corporation and branches of commercial banks.

SBP has provided posters to SBP Banking Service Corporation and commercial banks with the directives that these be put on display conspicuously in their offices and public places to create awareness among the people.

It is to be mentioned here that the large sized, old designed currency notes of Rs 500 denomination had been cancelled by the central bank from October 1, 2011.

 However, on Thursday Federal Minister for Petroleum and Natural Resources  Asim Hussain held out assurance in Senate that general public would be given opportunity  to change the cancelled Rs500 denomination notes.

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