SBP Clarifies Rs. 75 Banknote Is Still Legal Tender

The State Bank of Pakistan (SBP) has clarified that Rs. 75 commemorative banknote that was issued on the 75th Independence Day is still a legal tender and it can be used for monetary transactions.

The clarification comes after several rumors that State Bank of Pakistan (SBP) and the Government had terminated or withdrawn the Rs. 75 commemorative banknote and it was no longer a a legal form of currency.

However, SBP Spokesperson Abid Qamar has clarified that the commemorative banknote is still legally valid and it can be used like any other currency note to perform monetary transactions in the country.

He said that State Bank issues all currency notes are issued under Section 25 of its act whether it is a normal currency note or a commemorative banknote. Furthermore, he added that there is no expiration date of the Rs. 75 banknote.

However, since it is a commemorative banknote, it was only produced in a limited quantity and it can be used until it remains available in the market.

Read more: SBP Announces Bank Holiday on May 1.

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