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Wednesday, February 28, 2024  
17 Shaban 1445  

SBP clarifies both blue, green color banknotes of Rs75 can be used

Central bank says both banknotes are legal tender
A combination of pictures show banknotes of Rs75 (predominantly green and blue). Photo via State Bank of Pakistan
A combination of pictures show banknotes of Rs75 (predominantly green and blue). Photo via State Bank of Pakistan

The State Bank of Pakistan has clarified that both blue and green color banknotes of Rs75 could be used as a medium of exchange in all transactions across Pakistan.

“Banknote of Rs75 [predominantly green] issued on August 14, 2022 to commemorative 75 years of Pakistan’s Independence and banknote of Rs75 [predominantly blue] issued on July 04, 2023 to mark 75 years of SBP’s inception are legal tender across Pakistan,” the central bank said in a statement on Monday.

The clarification comes after concerns from the people that the predominantly green colour banknote of Rs75 has been banned after the launch of a predominantly blue colour note of the same denomination.

The central bank clarified that under Section 25 of the State Bank of Pakistan Act, 1956, all banknotes including commemorative notes issued by SBP were legal tender everywhere in Pakistan for the amount expressed therein and carry the guarantee of the federal government.

“These banknotes are equally eligible to perform the function of medium of exchange ie for settlement of private and public obligations. Besides, SBP and all commercial banks shall issue to, and accept from, public, these banknotes,” it said.

Last month, the government clarified that it has not scrapped its largest bill.

“This is fake,” interim Information Minister Murtaza Solangi wrote on X, formerly known as Twitter, on September 7 while sharing a fake notification of a ban on Rs5,000 notes. “The Govt of Pakistan shall act against the people spreading this kind of fake news to create chaos.”

His clarification came after a notification made rounds pertaining to the government’s decision to ban the highest denomination of Pakistani rupee. The fake notification, as claimed by the minister, claimed that the use, possession, and circulation of Rs5,000 would be banned from September 30.

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SBP

State Bank Of pakistan

75 banknote

banknotes of Rs75

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