State Bank of Pakistan (SBP) has directed all commercial banks and field offices of SBP Banking Services Corporation (BSC) operating throughout the country to exchange the existing Rs5 banknote with banknotes and coins of all denominations before 31st December, 2012. It may be pointed out that this directive allows only the exchange of Rs5 banknote from banks and SBP-BSC field offices to facilitate the general public who are in possession of such notes. However, the said banknote will stand demonetised, and shall not be a legal tender from 1st January, 2012. Over 10,000 branches of commercial banks and 16 field offices of SBP BSC will exchange these banknotes of Rs5 denomination. This exchange facility will be available to the general public till 31st December, 2012.
