Circulars/Notifications - Finance Department  
 No. CMD/784/ 7/(Dem-5) /2011
December 22, 2011 

The Presidents / Chief Executives
All Commercial/Microfinance Banks

Dear Sirs / Madam,

Exchange of Rs. 5 Banknote


This refers to SBP circular No. CMD /453/ 7/(Dem-5) /2011 dated 27th May, 2011 regarding demonetization of the Rs. 5 banknote.

2. Please be advised that the Federal Government has extended the last date for exchange of the Rs. 5 banknote to 31st December, 2012 vide Gazette Notification No. 3(8)IF-IV/2009, dated 15th December, 2011.

3. This directive allows only the exchange of Rs. 5 banknote from banks and SBP-BSC field offices to facilitate general public in possession of such notes; however, the said banknote will stand demonetized, and shall not be a legal tender from 1st January, 2012. Accordingly, banks are advised to:

a. Exchange the existing Rs. 5 banknote with banknotes/coins of all denominations until 31st December, 2012.
b. Surrender all such Rs. 5 banknotes to SBP Banking Services Corporation field offices for exchange or credit of exchange value in their respective bank accounts up to 31st December, 2012.

4.Banks are also requested to widely publicize the extension of date for exchange only (up to 31st December, 2012) and demonetization of Rs. 5 banknote from 1st January 2012, in line with their respective advertisement policies for the awareness and facilitation of general public, and issue necessary instruction to all their branches for implementation of the above instructions in letter and spirit.

Please acknowledge receipt.

Yours faithfully,


(Altaf Hussain)


About SBP
Economic Data
Press Releases
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Contact us
What's New?
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Rupey ko Pehchano
Zahid Husain Memorial Lecture
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.