Pakistan: Rs 5 Banknote Ceases to be a Legal Tender

[Bimat]

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In this regard commercial banks will stop issuance of Rs 5 banknotes either issuable or re-issuable with effect from 1st July 2011. However, Rs 5 banknotes in circulation will remain legal tender up to 31st December, 2011 and commercial banks are required to accept the Rs 5 banknotes and exchange the same with banknotes or coins. These banknotes are required to be surrendered to the nearest / linked Field Offices of State Bank of Pakistan, Banking Services Corporation /Chest branches of National Bank of Pakistan in suitable lots up to 31st December, 2011.

Aditya