Will Old Currency Notes Be Valid After New Ones Are Introduced?

Published On: January 22, 2026

The Government of Pakistan has decided to issue new currency notes from Rs 10 to Rs 5,000, featuring updated designs and enhanced security features. Alongside this move, authorities are also working on introducing polymer (plastic) currency notes for the first time in the country.

Will Old Notes Stop Working Immediately?

According to official sources, old currency notes will NOT be withdrawn immediately after the launch of new ones. Instead, the government will follow a phased replacement process to avoid inconvenience for the public.

Timeline for Exchange

The State Bank of Pakistan (SBP) will issue a clear timeline
All commercial banks will be instructed to exchange old notes for new ones
Citizens will be able to deposit old notes and receive new currency during the transition period

Authorities expect the newly designed banknotes to enter the market during 2026.

Current Currency in Circulation

At present, nearly Rs 10.26 trillion is in circulation across the country. The government plans to coordinate with banks to ensure a smooth and transparent replacement process.

Officials have assured that the new notes will not only be more secure against counterfeiting but will also make financial transactions safer and more convenient nationwide.