The State Bank of Pakistan (SBP) has firmly denied the rumor regarding the demonetization of the Rs. 75 commemorative banknotes.
During Eid ul Fitr, several shopkeepers across the country declined to accept Rs. 75 notes, which sparked speculations about the demonetization of the banknote.
In a video message posted on the central bank’s official Twitter handle, SBP spokesperson Abid Qamar clarified that the commemorative banknote is legally valid, just like any other currency note.
He also emphasized that the Rs. 75 banknote was issued last year to celebrate the country’s 75 years of independence.
The SBP issues all currency notes under Section 25 of its Act. The Rs. 75 commemorative banknote has no expiration date and can be used in all transactions.
He also refuted the false rumors that the government has terminated or withdrawn the banknote.