Governor of the State Bank of Pakistan (SBP), Jameel Ahmed, announced that the new currency notes with redesigned features will be introduced in 2025.
The new notes will be released in phases, with each design being printed and circulated gradually, rather than all at once.
During a press conference, SBP Governor stated that the new notes’ technical evaluation is underway, adding that the new currency designs will be presented to the cabinet for approval after finalization.
He emphasized that the first new note will be issued in 2025, though he could not yet confirm which design it would be.
Earlier in the day, the State Bank of Pakistan (SBP) announced a reduction of 100 basis points (bps) in the key policy rate, bringing it down to 12 percent from 13 percent.
Following the decision made by the Monetary Policy Committee (MPC), the Governor SBP, Jameel Ahmed, on January 27, 2025, made the announcement stating that the decision was based on positive economic signals, a notable decrease in inflation, current account deficit, and a series of rate cuts since June 2024.
The policy rate now stands at 12 percent, a total reduction of 1,000 bps since it was 22 percent last June.
Analysts had widely anticipated the 100 bps cut, noting that recent government measures have helped reduce inflationary pressures.
