Abb Takk News
Business News Ticker Pakistan TRENDING

Rs360 Billion Worth Fresh Currency Notes Issued For Eid

Web desk(June 18, 2018): Paper money worth Rs360 billion was issued across the country ahead of Eid-ul-Fitr as people seek to collect fresh currency notes to distribute as Eidi.

According to the State Bank of Pakistan, the demand for currency notes this year was 50% more than what it was in 2017. The total booking limit of 2.7 million customers was also increased this year from 1.8 million last year.SBP started issuing fresh currency notes to the public from June 1 for Eid-ul-Fitr celebrations.

The central bank in collaboration with the Pakistan Banks Association (PBA) set up SMS short code 8877 for issuing fresh currency notes, which were issued from June 1 to 14.A notification issued earlier this month stated that people intending to get new currency notes would send a message to 8877 along with their CNIC number and branch code of the selected bank. The system will respond with sending transaction number and branch address.SMS service was launched on May 31 and arrangements were made at 1,535 branches in 132 cities as compared to 1,018 branches nominated in 120 cities on Eid-ul-Fitr 2017.

SBP received a weighty response from the public,  against SMS service as millions of requests were received countrywide for fresh currency notes.

Related News:

Dollar Closed At 121.39 At Inter Bank Market

Rise In Chicken Prices Just Before Eid-ul-Fitr