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| 13 January 2005 | Thursday | 02 Zilhaj 1425 |
SBP asks people to get Rs5 coins
KARACHI, Jan 12: The State Bank has advised general public to exchange Rs5 notes with Rs5 coins at any branch of a commercial bank or at filed offices of the SBP Banking Service Corporation up to June 30, 2005.
From July 1, these notes will cease to be a legal tender. The central bank announced through a press release that it had asked commercial banks to stop issuing Rs5 notes from February 1, 2005.
But the central bank said that all branches of commercial banks and field offices of the SBPBSC will freely collect/accept Rs5 bank notes from the general public up to June 30, 2005 and provide Rs5 coins or bank notes of higher denominations in exchange of them. The Rs5 bank notes will continue to be a legal tender till June 30.
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