Pakistan has not announced that all currency notes are being replaced, or that any denomination is being withdrawn. In a clarification dated September 17, 2026, the State Bank of Pakistan (SBP) said a proposal for a new banknote series was still under consideration by the Federal Cabinet and that no decision had been made to replace or discontinue a denomination. The statement was reported by Dawn; SBP’s press-release index lists the clarification on September 17.
For people holding rupees, the practical answer is that the reviewed announcement sets no exchange deadline for currently circulating notes. A proposal to issue new designs is not, by itself, an order to surrender existing cash.
Are Pakistani currency notes being discontinued?
Not according to the cited clarification. SBP said the proposal for a new series remained under deliberation and no decision had been taken to replace or discontinue any denomination. The immediate rumor concerned the Rs 10 note; Dawn reported that SBP rejected claims it had decided to phase it out or set an exchange deadline.
SBP’s statement, as quoted by Dawn, said: “The SBP has submitted a proposal to introduce a new banknote series, which is currently under consideration by the Federal Cabinet,” and that “no decision has been taken on replacing or discontinuing any denomination.” Any later decision, it said, would be formally communicated through official channels, with adequate time for people to exchange notes affected by it.
#1 Best Overall
- Item Type: This collectible world paper money piece is an authentic vintage banknote issued for numismatists and paper currency enthusiasts worldwide.
- Issuing Country and Year: This official banknote originates from Pakistan and was released into circulation in the year 1983 under government authority.
- Catalog Number and Grade: Officially cataloged under Pick number P#27j, this specimen is graded as UNC Uncirculated condition for collectors.
- Design and Imagery: The banknote features an architectural monument on the reverse side and traditional decorative geometric patterns with crescent and star symbols.
- Collecting Value: A wonderful addition to any global currency collection or paper money hobby, offering historical significance and fine preservation.
What should you do with old cash now?
The cited clarification gives no deadline or exchange procedure for notes currently in circulation. Do not treat a proposed redesign, a social-media post, or an unsourced date as an instruction to exchange your cash. Wait for an official notice that identifies the affected notes and explains what action is required.
For a future change to be actionable, look for a formal SBP or government announcement specifying the denominations and designs covered, when any old notes would cease to be legal tender, where they could be exchanged, and the final exchange date. SBP said such a decision, if made, would be announced through official channels.
Rank #2
- 25 Banknotes from the World: Human history has a tangled path, and there are items that support us in researching the events in the past. Take these 25 different banknotes to get to know their stories carefully.
- Foundation of Your Collection: 25 foreign currency banknotes will be a good starting point for numismatic enthusiasts to set up their collection. Collection of banknotes will suffice you and promote your thrill and interest in researching the stories of the currencies.
- Increasing Value: As time passes, these banknotes increase in value as they resemble the countries and governments that are not here anymore. Make a solid investment into your collection and benefit from it as the years pass by.
- Authenticity Certificate: Every collection has been carefully inspected by a member of the American Numismatic Association and has a Certificate of Authenticity inside. Please notice that bills in a collection are diverse and may vary in quality.
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What happened in Pakistan’s previous note transition?
The earlier transition shows why a new design, the end of legal-tender status, and the close of an exchange window are separate events. It is historical precedent, not a schedule for the proposal now under consideration.
| Stage | What the official notice said |
|---|---|
| New-design series | SBP’s August 5, 2015 notice said the series began with the Rs 20 note in 2005 and was completed in 2008. It comprised Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500, Rs 1,000 and Rs 5,000 notes. SBP notice |
| Legal-tender status ended | The specified old-design Rs 10, Rs 50, Rs 100 and Rs 1,000 notes ceased to be legal tender on December 1, 2016. SBP notice |
| Original exchange deadline | Commercial and microfinance banks were to exchange the specified notes through November 30, 2016; SBP Banking Services Corporation field offices were to accept them through December 31, 2021. SBP notice |
| Extended deadline | A February 4, 2022 SBP circular records an extension for exchanging those demonetized notes at SBP BSC field offices through December 31, 2022. This did not restore their legal-tender status. SBP circular |
A National Assembly answer described the general distinction this way: “Unless a banknote has been demonetized, it can be exchanged with such banknotes of equal value as are currently legal tender in Pakistan.” Its account of earlier withdrawal deadlines is not a new exchange instruction for 2026. National Assembly answer
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Rank #3
- 100 Banknotes from the World: Human history has a tangled path, and there are items that support us in researching the events in the past. Take these 100 various banknotes to get to know their stories carefully.
- Foundation of Your Collection: 100 banknotes will be a good starting point for numismatic enthusiasts to set up their collection. Collection of banknotes will suffice you and promote your thrill and interest in researching the stories of the currencies.
- Increasing Value: As time passes, these banknotes increase in value as they resemble the countries and governments that are not here anymore. Make a solid investment into your collection and benefit from it as the years pass by.
- Authenticity Certificate: Every collection has been carefully inspected by a member of the American Numismatic Association and has a Certificate of Authenticity inside. Please notice that bills in a collection are diverse and may vary in quality.
- What a Gift Idea: Walk no further if you wish to make history gifts to your numismatic friend, a birthday gift, anniversary offering, or wedding present. Our historical gifts currency collection can also serve as an educational basis for children in schools or at home.
What is not yet known about the proposed series?
The cited clarification does not establish whether the Federal Cabinet has approved the proposal since then, when new notes might be issued, which denominations or designs could be included, or what exchange arrangements would apply. It provides no schedule or detailed procedure. Check the latest SBP releases and government notifications for any subsequent decision.
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Best Value
Rank #4
- Item Type and Denomination: This collectible world paper money features a 10 Rupi denomination issued for collectors of foreign paper money and numismatic specimens.
- Issuer and Year: Officially issued by the State Bank of Pakistan in 1999, capturing a specific period in the nation's monetary history and paper currency evolution.
- Catalog Number and Condition: Listed under Pick catalog number P#39(6) and graded in pristine UNC Uncirculated condition, making it a great addition for advanced paper money collections.
- Design and Artwork: The obverse displays a detailed portrait of a statesman, while the reverse showcases an illustration of an ancient historical archaeological landmark ruins.
- Collecting Value: A genuine piece of foreign currency ideal for numismatists, world banknote hobbyists, and enthusiasts expanding their international paper money portfolios.
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