The State Bank of Pakistan (SBP) has clarified that under Section 25 of the State Bank of Pakistan Act, 1956, all banknotes, including commemorative notes, issued by SBP are legal tender everywhere in Pakistan for the amount expressed therein and carry the guarantee of the Federal Government.
The central bank said in its statement that banknote of Rs.75 (predominantly green) issued on August 14, 2022, to commemorative 75 years of Pakistan’s Independence and banknote of Rs.75 (predominantly blue) issued on July 04, 2023, to mark 75 years of SBP’s inception are legal tender across Pakistan.
These banknotes are equally eligible to perform the function of medium of exchange i.e. for settlement of private and public obligations. Besides, SBP and all commercial banks shall issue to, and accept from, public, these banknotes, the central bank added.
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