SBP has not issued fresh currency ahead of Eid
For the second time in a row, the State Bank of Pakistan has not issued fresh currency notes on the occasion of Eid-ul-Fitr.
The custom of giving fresh, crisp notes in Eidi to loved ones will cost more this year as these bundles are being sold at a high premium.
The central bank issued fresh notes worth Rs168 billion in 2017, according to the SBP website. In 2018, it said, the number of recipients of fresh note bundles increased by around 50% — from 1.8 million to 2.7 million.
However, the central bank has not been issuing fresh notes for the last two years as part of the coronavirus SOPs.
But these bundles are available in the prize bond market in Karachi’s Bolton Market. Rs10 and Rs20 bundles of a hundred fresh notes are selling at a premium of Rs200. This means one has to pay Rs1,200 to get Rs1,000 in fresh Rs10 notes and Rs2,200 for Rs2,000 in fresh Rs20 notes.
Rs50 and Rs100 fresh bundles are being sold at a premium of Rs500.