Reference-based distribution peaks as new currency notes appear in markets ahead of Eid-ul-Fitr

Commerce Reporter

LAHORE: New currency notes are being sold at high prices—Rs1,500 for a Rs100 note copy, Rs1,400 for Rs50 and Rs10 notes, and Rs2,700 for Rs20—raising public concerns over the currency supply and distribution management.

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According to multiple sources, a considerable portion of fresh currency notes did not reach the general public through regular banking channels and surfaced in local markets.

Traders in some areas, including Lahore, are reportedly selling new notes at elevated rates. Market information indicates a single copy of Rs100 note is being sold for up to Rs1,500, Rs50 for Rs1,400, Rs20 for Rs2,700, and Rs10 for Rs1,400.

Some sources added that portions of these notes have been supplied to markets such as Lahore’s Shalam Market, where they are often used in decorative currency garlands for events.

Observers also note that reference-based distribution appears to be at its peak, reportedly allowing easier access for select individuals, while ordinary citizens face difficulty obtaining new notes from banks.

Sources said that despite billions of rupees in new currency being released to banks nationwide, limited quantities are reportedly available at branches, prompting some citizens to purchase notes from markets at higher prices.

A citizen told The Tribune International that the system for distributing new currency notes does not appear to be fully effective and called for increased transparency and oversight.

Separately, sources added that the State Bank of Pakistan (SBP) has reportedly not issued as many new notes ahead of this Eid compared to previous years, possibly due to plans for redesigning existing currency notes.

No official statement has been issued by the SBP or other authorities.

The situation has drawn public attention, with calls for improved monitoring and equitable distribution of new currency notes.