SBP clears air about demonetisation of Rs75 commemorative banknote
“Rs75 commemorative banknote has no expiration date and can be used in all transactions,” says SBP spokesperson
April 28, 2023
Categorically rejecting the rumour circulating in some sections of society about the demonetisation of the Rs75 commemorative banknote, the State Bank of Pakistan (SBP) on Friday clarified that the commemorative banknote has legal status just like other currency notes.
Taking to the central bank's official Twitter handle, SBP’s spokesperson Abid Qamar — in a video message — clarified that the Rs75 commemorative banknote was issued last year to mark the country’s 75 years of independence.
“The SBP issues all currency notes under Section 25 of its Act,” he added.
The spokesperson said that the Rs75 commemorative banknote is a legal tender and can be used as a medium of exchange in all transactions.
He further said that there is no truth to the rumours claiming that the government has discontinued or withdrawn the banknote.
“The Rs75 commemorative banknote has no expiration date and can be used in all transactions,” the spokesperson added.
It is pertinent to mention here that the shopkeepers refused to receive Rs75 notes in most parts of the country amid Eid ul Fitr, triggering rumours about the demonetisation of the banknote.
