Pakistan issuing Rs10,000 banknotes amid rupee devaluation

KArACHI – The decision to introduce higher denomination currency is mostly based on factors like inflation, economic growth, and the need for more proficient means of payment.

Amid the record inflation in Pakistan, social media reports claimed that State Bank of Pakistan is issuing Rs10,000 banknotes. As the rumors spread across different social media platforms, the central bank made clarification for the general public.

A spokesperson of SBP told a local media outlet that reports of issuing higher denomination banknotes are not true, cautioning the masses to remain alert.

The matter also triggered gossip on Twitter and other sides where some people debunked the claims as the name of SBP Governor Yasin Anwar was mentioned on the edited picture of the Rs10000 note.

Earlier in 2018, the central bank cleared the air about rumors of the release of new currency notes.