New Currency Notes Pakistan 2024 with Advanced Features
New Currency Notes Pakistan 2024: The State Bank of Pakistan (SBP) Governor Jameel Ahmed on Monday announced the central bank’s major decision to introduce new currency notes in all denominations to improve security features and fight counterfeit currency in the country.
In a surprise announcement during an informal discussion with journalists, the central bank governor announced plans to introduce new currency notes of all denominations in Pakistan.
The fight against black money inside the country reflects the principled decision of the State Bank of Pakistan to change the existing currency system.
The State Bank of Pakistan Governor, Jamel Ahmed, said the new currency notes will incorporate advanced international security features to prevent fraud. In addition, a design competition planned for February will determine the aesthetic structure of the future currency.
New Currency Notes Pakistan 2024
The upcoming new currency notes Pakistan 2024 are expected to feature bright colors, different serial numbers, an advanced design, and enhanced security measures.
Governor Jameel Ahmed also said the transition would not be like a sudden change in India’s currency, believing it to be a surprise. The decision stems from concerns over the spread of fake notes across the country, which reflects the central bank’s duty to maintain the integrity of Pakistan’s monetary system.
Also check: Dollar Rate in Pakistan Today: Daily Update 2024
According to experts, Pakistan’s economy is affected by the illegal use of black money, which is easier due to the widespread circulation of high denominations. “It is a step in the right direction to ensure the integrity of Pakistan’s monetary system, but it will also include demonetization,” said Sohail Farooq of Capital Investment.
Farooq further said, “If new currency notes are in circulation, it will give credibility to circulation and give confidence to businesses.” Another banker said the State Bank of Pakistan (SBP) should ensure that the public and businesses are not inconvenienced during the implementation of the new currency.
Also check: Gold Rate in Pakistan Today: Daily Update 2024