ISLAMABAD: The State Bank of Pakistan (SBP) has informed the public that old-design large-size banknotes could not be exchanged after December 31, 2022.

“The holders of these old design large banknotes have been given the last chance to exchange these old design large size banknotes from the field offices of the SBP Banking Services Corporation (BSC) by 31st December 2022,” the SBP said in a statement on Tuesday.

The statement said that the federal government “vide Gazette Notification F.No.2(1)IF-III/2010 dated December 23, 2021, had extended the last date for exchange of old design large size banknotes of Rs 10, 50, 100 and 1000 by one year”.

It is once again emphasized that this is the last and final deadline for exchange of such banknotes, upon expiry of which, these banknotes would no longer be exchangeable from the counters of the SBP BSC and thus will lose their value.

“The general public is, therefore, requested to avail this final opportunity and get their holdings of these banknotes exchanged from SBP BSC Field Offices by December 31, 2022 and protect the value of their savings in these banknotes,” the statement added.