As of December 30, 2024, the Pakistani government has not banned the 5,000-rupee banknote.
Earlier this year, the State Bank of Pakistan announced plans to redesign all existing banknotes, including the 5,000-rupee denomination, to enhance security features.
The initiative includes introducing a new polymer plastic currency note in one denomination, with the possibility of expanding to other denominations based on public reception.
Despite occasional rumors and suggestions from some officials to discontinue the 5,000- rupee note to combat corruption, the State Bank has confirmed that there are no plans to cancel this denomination. The 5,000-rupee note remains legal tender and continues circulating across Pakistan.
In 2023, the rumour of discontinuing the Rs5000 note also emerged but were termed fake.
“The possession, circulation and use of 5,000-rupee notes will be banned in the entire country from September 30, 2023,” says an Urdu-language post shared on X, formerly known as Twitter, on September 7.
The post featured a screenshot of a document saying the banknote is being banned in order to curb illicit activities, with the header “Government of Pakistan, Finance Division (Internal Finance Wing)” and the government logo.
