Plastic notes: Rs 5,000 notes to be issued in December, central bank makes big announcement

New Delhi: India’s neighboring country Pakistan is making every effort to strengthen its economy. For this, it is not shying away from taking a loan from the World Bank and taking every small step domestically.

Now the Central Bank of Pakistan has made a big announcement. A new polymer plastic currency banknote will come into use later this year. The central bank will redesign all existing banknotes for better security and hologram features.

State Bank of Pakistan Governor Jamil Ahmed told the Senate Committee on Banking and Finance in Islamabad that all existing paper currency notes are being redesigned with new security features by December this year.

Ahmed said the newly designed banknotes of Rs 10, 50, 100, 500, 1,000 and Rs 5,000 will be issued in December.