Pakistan Replaces Rs10 Banknote With Coin

The federal cabinet of Pakistan, chaired by Prime Minister Shehbaz Sharif, approved the replacement of the Rs10 banknote with a coin of the same denomination. The decision follows a recommendation from the Ministry of Finance and addresses rising production costs for the banknote, a factor previously noted by the State Bank of Pakistan.

This official move follows a period of uncertainty in September when the State Bank of Pakistan dismissed social media reports claiming the note would be discontinued. While the cabinet has now formalized the transition to a coin, the government has not yet established a deadline for exchanging existing Rs10 banknotes or a date when they will no longer be legal tender.

In addition to the Rs10 change, the cabinet approved designs for a new series of currency notes. Developed through consultations with artists and stakeholders, these new banknotes will use modern materials to increase durability and incorporate enhanced security features to combat counterfeiting.