SBP advises public to exchange old-design Rs.500 note up to September 30

Karachi, March 09, 2011 (PPI): The State Bank of Pakistan (SBP) has once again advised the general public to exchange the old-design and bigger-size banknote of Rs.500/- from the field offices of SBP Banking Services Corporation and the branches of all commercial banks throughout the country up to 30th September, 2011.

It may be recalled that the Federal Government has already notified that the old-design banknote of Rs.500/- (introduced in April 1986) will cease to be the legal tender and not exchangeable with effect from 1st October, 2011.