Fresh currency notes have begun circulating across Pakistan ahead of Eid-ul-Fitr, as dealers are selling the notes in black market at higher prices.
On the other hand, the State Bank of Pakistan (SBP) has announced that new notes are being distributed through official banking channels only.
Black market activity reported
According to market sources, vendors in several cities have set up stalls and hand carts offering bundles of fresh notes at prices above their original value.
For example, a bundle of Rs10 notes worth Rs1,000 is reportedly being sold for between Rs1,500 and Rs1,600.
Older Rs10 notes of the same value are also being sold at increased rates.
Similarly, bundles of Rs20 notes worth Rs2,000 are being offered for more than Rs2,500.
Vendors are also charging extra for Rs50 and Rs100 notes, which are commonly used during Eid.
High demand during Eid-ul-Fitr
Demand for fresh currency notes typically rises before Eid-ul-Fitr, when people give cash gifts, often referred to as “Eidi”, to children and family members.
This seasonal demand can sometimes lead to shortages in certain areas, creating opportunities for unauthorised sellers to charge higher prices.
SBP advisory
The State Bank of Pakistan (SBP) has urged citizens to obtain fresh currency notes only through official sources, including commercial bank branches and ATMs.
The central bank said it is distributing billions of rupees in fresh notes across the country and may deploy monitoring teams to ensure fair access.
Officials also warned that buying currency from unauthorised sellers could violate banking regulations and may lead to legal action.
Authorities have advised people to avoid purchasing notes from unofficial vendors and to report any suspicious activity.
The SBP has also shared a helpline and official website for guidance, as it continues efforts to ensure a transparent distribution process during the festive period.
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