Pakistan will be introducing new currency notes by the end of this year, according to Jameel Ahmed, Governor of the State Bank of Pakistan (SBP). The governor told the Senate Standing Committee on Finance and Revenue that all current notes from Rs. 10 to Rs. 5,000 will be replaced.
The new notes will be made of polymer, a type of plastic, and are aimed at reducing counterfeiting. Initially, a test version of the polymer note will be introduced. If these test notes prove to be durable and secure, the new notes will be rolled out across the country. The change will happen after getting approval from the federal cabinet.
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