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Article#0003 Date: 27 May 2006 Country: Pakistan
State Bank to issue Rs. 5000/- and New Rs. 10/- Banknotes
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<- PHOTO KARACHI: Governor State Bank of Pakistan, Shamshad Akhtar addresses the newsmen during a press conference on the occasion of launching of new currency notes of 5000 Rupees and 10 Rupees. Note pictured here is the new 5000 Rupee note. Photo (c) PakTribune |
Saturday May 27, 2006 (0001 PST)
KARACHI: The Governor, State Bank of Pakistan, Dr. Shamshad Akhtar has announced
the launching of Rs.5000/- and new Rs.10/- banknotes from tomorrow. She said
that all the field offices of SBP Banking Services Corporation throughout the
country would issue these notes with effect from Saturday (today).
Addressing a press conference at the State Bank of Pakistan on Friday, the
Governor said that it is for the first time in the history of the country that
the banknote of Rs.5000/- denomination is being introduced. She said the main
benefit of introducing Rs.5000/- banknote was to provide convenience and
facilitate higher value transactions. Issuance of larger denominated note also
economizes the expenditure on printing of notes as higher denomination notes
would reduce the consumption of lower denomination notes.
Dr. Akhtar said the Government of Pakistan and the State Bank had decided to
issue new designed banknotes with high-tech security features to minimize the
possibility of counterfeiting of these notes.
She said that Rs.5000/- banknote contains several security features of
international standards and now our notes are comparable with Euro and have more
security features than US dollars. ’The note also contains a special security
feature to facilitate the visually impaired persons to easily recognize it’, Dr.
Akhtar added.
The Governor said that the new designed Rs. 10/- banknote also contained a host
of security features as compared to the existing Rs. 10/- note.
She said the new notes also depict the architectural heritage of the country.
Famous monumental structures of Pakistan - the Khyber Pass, Peshawar,
Mohen-jo-Daro, Larkana and Faisal Mosque, Islamabad - have been printed as the
vignette at the reverse of Rs.10, Rs.20 and Rs.5000 banknotes respectively, the
Governor added.
With a view to facilitate the handling of new notes, their size has been kept
smaller than the existing notes. The width of the new banknotes is 65 mm as
against 73mm of the existing banknotes while the length of new banknotes has
also been kept smaller than the existing ones, Dr. Akhtar added.
Dr. Akhtar said that the designs of all the existing banknotes would be changed.
She said that the new designed Rs.20/- banknote was being issued from 13th
August, 2005 while Rs.5000/- and Rs.10/- new banknotes would be introduced from
27th May. New designed banknotes of Rs.50/-, Rs.100/-, Rs.500/- and Rs.1,000/-
would be launched during the next fiscal year.
The Governor informed the newsmen that the old designed banknotes would continue
to remain in circulation as a legal tender along with the new designed notes.
Original Article:
http://paktribune.com/news/index.php?id=144935
Click here to view Pakistan's
Banknotes
Update to this story- 8 June
2006
by Will M.
As of today there has still been no update to the
State Bank of Pakistan's website with
regards, to the new notes. The banknotes section of their website is quite poor
and offers only a photo of the new 20 Rupee note issued last year.
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Page created: 7 June 2006
Last Update: 8 June 2006
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