SBP denies issuance of Rs10,000 banknote

State Bank of Pakistan on Friday refuted rumours circulating on the social media regarding the issuance of a Rs10,000 banknote. 

In a press release issued today the central bank stated that the 'existing banknote denominations satisfactorily meet the payment, settlement and other allied needs of the economy.' 

The SBP further said that there was no need for issuing higher denomination banknotes.

"The general public is advised to not pay heed to such rumors and check the authenticity of any news item related to banknotes on the SBP website and its social media accounts," said the press release.

The central bank advised the public to verify such rumours from updates available on its website and social media accounts.

State Bank launches Facebook page 

The SBP formally launched its official Facebook page earlier today. 

Governor SBP Tariq Bajwa in his message hoped that gradual expansion being made in communication tools would help SBP to keep itself abreast with modern means of communication and interact with its stakeholders. 

“SBP communications not only bridge the information gap of its stakeholders but also promotes credibility and understanding of its policies and remove uncertainties to the best possible manner,” he said. 

The central bank had embarked on its journey on social media by launching its Twitter account July 1, 2015, which is now a verified official account for SBP. The page can be found