Rs 5 notes to be reintroduced

Saturday January 20, 2007 (0019 PST)

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KARACHI: The federal cabinet has decided to reintroduce banknote of Rs 5 denomination and asked the State Bank of Pakistan (SBP) to take necessary step in connection of the launching of the new notes.

In this connection the SPB has asked the general public not accept the old Rs 5 denomination note under any circumstances for day to day transaction or any other purposes, because, the old Rs 5 noted, which demonetized and withdrawn from circulation with effect of July, 1, 2005, was not a legal tender, a spokesman of SBP said here.

The Rs 5 coins would be continued in circulation as a legal tender, he added.

End.