The State Bank of Pakistan (SBP) Governor has clarified reports about a potential ban on Rs 5000 notes, stressing that these high-denomination bills will remain legal tender.
He added that the SBP is committed to maintaining currency stability and ensuring public trust in Pakistan’s financial system.
SBP Governor’s Key Points
The Governor emphasized that:
- No ban is planned on Rs 5000 notes.
- Citizens should ignore unverified reports circulating in the media.
- The SBP will officially announce any policy changes regarding currency.
Furthermore, authorities continue to monitor cash circulation and anti-money laundering measures, but they assured the public that these efforts will not affect the Rs 5000 note.
Why the Rumors Spread
Speculation about a ban began due to ongoing discussions on large-denomination notes and money laundering concerns. Additionally, social media posts and some news reports misled the public.
However, SBP officials clarified that these reports are false and unverified.
Public Advisory
The SBP advised citizens to:
- Continue using Rs 5000 notes for transactions without worry.
- Rely on official statements from the SBP regarding currency changes.
- Report false news or suspicious activities to authorities.
Moreover, banks and exchange houses are instructed to honor Rs 5000 notes and operate normally.
Outlook
The SBP confirmed that no policy change is expected soon. Meanwhile, the bank will continue efforts to:
- Strengthen digital payments
- Monitor cash circulation
- Prevent illegal financial activities
Overall, the SBP Governor’s response aims to reassure the public and maintain confidence in Pakistan’s currency system.
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