The decision to introduce currency with higher denominations primarily relies on various factors such as inflation rates, economic growth, and the necessity for more efficient payment methods.
In the midst of a significant inflation surge in Pakistan, speculations started circulating on social media suggesting that the State Bank of Pakistan (SBP) was planning to issue banknotes of Rs10,000. As these rumors gained traction across different social media platforms, the central bank felt compelled to address the concerns and provide clarification to the general public.
A spokesperson from the SBP conveyed to a local media outlet that the reports regarding the introduction of higher denomination banknotes were false, emphasizing the need for the public to remain vigilant and cautious about such claims.
The situation also triggered discussions on Twitter and other platforms, where some individuals refuted the allegations by pointing out that the name of SBP Governor Yasin Anwar was mentioned in the edited picture of the supposed Rs10,000 note.
In a similar instance back in 2018, the central bank had already dispelled similar rumors about the release of new currency notes, making it evident that these claims lacked any factual basis.