Pakistan New Currency Notes with Enhanced Security

The State Bank of Pakistan is set to introduce updated currency notes with new designs, selected from an art competition, to replace the current denominations and maintain the integrity of the currency, with the first release expected by the end of 2025.

The new currency notes will feature advanced security features and were chosen from among the winners of an art competition, where citizens submitted their designs. The process of issuing new notes is extensive and is currently in the final stages of approval, pending cabinet approval, which is expected within the next two to three months. The release of the new notes will occur in phases, but the exact denomination to be released first has not been disclosed.

The introduction of new currency notes is a routine practice, with central banks typically updating their currency design every 15-20 years to incorporate security advancements and maintain integrity. The State Bank of Pakistan's decision to update its currency notes is in line with this practice, ensuring the country's currency remains secure and up-to-date.

In addition to the new currency notes, the State Bank of Pakistan is also exploring the introduction of a central bank digital currency (CBDC), which is currently under consideration by the government. The bank is studying developments worldwide and learning from other countries' technological frameworks to strengthen its capacity building in CBDC and focusing on the technological and regulatory requirements.

The introduction of new currency notes and the potential introduction of a CBDC are part of the State Bank of Pakistan's efforts to modernize and strengthen the country's financial system, providing a secure and efficient payment system for citizens and businesses alike.