Pakistan’s federal cabinet approved new designs for banknotes and the introduction of a Rs10 coin at its meeting on 4 November 2026. The decision has prompted questions about whether the existing Rs10 note is about to disappear, whether people must exchange their cash and whether a deadline has been announced. For shopkeepers, households and small businesses that handle cash every day, the distinction between approving a design and withdrawing a banknote is important.
As of 10 November 2026, the existing Rs10 banknote remains listed by the State Bank of Pakistan (SBP) as current legal tender. The cabinet’s approval of new designs does not, by itself, mean that the notes in people’s wallets have become invalid. The cabinet announcement did not specify a date for the new notes or coin to enter circulation, nor did it announce an exchange deadline for existing Rs10 notes.
What the cabinet has approved
The cabinet approved a new series of banknote designs following a process in which artists and designers were invited to submit proposals and a committee consulted stakeholders. The stated aims include stronger security features to help deter counterfeiting and the use of modern materials intended to improve durability. It also approved the introduction of a Rs10 coin in place of the existing Rs10 banknote.
Those are design and policy decisions. They do not tell the public when the new currency will be printed in sufficient quantities, distributed to banks and ATMs, or released for general use. No public timetable was included in the cabinet announcement.
Is the current Rs10 note still valid?
Yes. The SBP’s public currency information page currently lists Rs10, Rs20, Rs50, Rs75, Rs100, Rs500, Rs1,000 and Rs5,000 denominations among the banknotes that are legal tender across Pakistan. The Rs10 denomination remains on that list. This is the practical point consumers and retailers should rely on unless the central bank issues a formal withdrawal or redemption notice.
A new design does not automatically cancel an existing note. Currency changes normally involve several separate steps: approval of a design, production and distribution of the replacement, a formal public announcement about any withdrawal, and a defined period during which old notes can be exchanged or redeemed. People should not confuse the first step with the last.
Design approval, issuance and withdrawal are three different things
| Stage | What it means | What the public should do |
|---|---|---|
| Design approval | Authorities approve the appearance and security concept of a new series. | Continue using existing legal-tender notes. |
| Issuance | The central bank begins releasing new notes or coins into circulation. | Accept the new currency when it is officially issued. |
| Withdrawal or demonetisation | A formal notice specifies which notes will stop being legal tender and the relevant dates and exchange arrangements. | Follow the official instructions and stated redemption period. |
Only the third stage creates an urgent need for holders of an affected denomination to follow an exchange timetable. No such timetable for the current Rs10 note was included in the 4 November cabinet announcement.
How Pakistan handled an earlier banknote change
Pakistan’s previous major old-design banknote withdrawal provides a useful comparison. In 2015, the SBP announced that old-design Rs10, Rs50, Rs100 and Rs1,000 notes would cease to be legal tender from 1 December 2016, following a federal government Gazette notification. Commercial banks accepted the affected notes for exchange up to 30 November 2016, while SBP Banking Services Corporation field offices continued to accept them for a longer, specified period.
That process involved a formal date and a defined exchange arrangement. It is not evidence that the same dates or procedure have been set for the current Rs10 note. It shows why a public notice matters: people need time, clear instructions and official channels before a currency withdrawal takes effect.
Why replace a low-denomination note with a coin?
Coins and paper notes have different production, handling and durability characteristics. A coin may remain usable through more handling than a paper note, while notes are lighter and familiar for cash transactions. The cabinet announcement confirms the decision to introduce a Rs10 coin, but it does not publish a detailed cost comparison or a date for the transition. It would therefore be premature to claim a specific annual saving or to predict exactly when the note will disappear from shops.
What should people do with Rs10 notes now?
- Keep using them: the current Rs10 note remains on the SBP’s legal-tender list as of 10 November 2026.
- Do not rush to exchange cash: there is no announced deadline requiring the public to deposit or surrender existing notes.
- Ignore unofficial exchange offers: do not pay an agent or an online page to reserve new notes or coins.
- Check official notices: look for a public announcement from the SBP or a formal government notification before acting on a withdrawal claim.
- Be careful with personal information: no one should need your banking password, PIN or one-time password merely to explain a currency redesign.
How to recognise a genuine withdrawal announcement
A genuine currency withdrawal should identify the denomination and series affected, the date on which legal-tender status changes, the exchange or redemption period, and the institutions or branches that will accept the old notes. If a forwarded message gives only a dramatic deadline or asks people to click an unfamiliar link, it is not enough to establish that a note has been withdrawn.
False reward and exchange messages often exploit public announcements. Verity has explained the warning signs in its guide to the fake Rs13,000 Iqbal Day reward message. The same basic rule applies to currency rumours: verify the claim through the institution responsible for issuing the money, not through a forwarded screenshot.
What remains unknown
The government has not yet published a public release schedule for the redesigned series, the date on which the Rs10 coin will enter circulation, or a deadline for withdrawing the existing Rs10 note. Details about the final appearance of the notes, the exact security features and the transition arrangements should not be guessed from mock-ups or social-media images.
For now, the practical position is straightforward: existing Rs10 notes remain valid, the cabinet has approved new designs and a replacement coin, and the public should wait for a formal SBP notice before making any exchange decision.
Official currency information: State Bank of Pakistan — Rupay ko Pehchano and current legal-tender banknotes.