The State Bank of Pakistan (SBP) on Monday rejected reports circulating on social media that currency notes were being redesigned, saying no such proposal was under consideration.

"Some fake news regarding new designs of currency notes is circulating on social media. SBP categorically denies the news and clarifies that no such proposal is under consideration at the moment," the central bank said in a tweet.

It also shared a picture of the designs that were doing the rounds with the word "fake" written in bold over them.

The State Bank had last redesigned a currency note more than a decade ago. The new Rs500 bill — which was smaller in size — was introduced on January 25, 2010.

Prior to that, the new Rs1,000 note was introduced in February 2007, the new Rs5,000 note in May 2006 and the new Rs100 note in November of the same year.

The new Rs50 note was introduced in July 2008, Rs20 in March 2008, and Rs10 in May 2006.