Many Pakistanis planning to give new currency notes as Eidi on Eid-ul-Fitr 2026 will need to change their plans. The State Bank of Pakistan has officially confirmed that freshly redesigned banknotes will not be issued before Eid.Financial support programs like the Benazir Income Support Program follow a fixed system.
They run on a set schedule. Currency issuance works the same way. It cannot be rushed for festivals. Because of this, existing banknotes will be used during Eid 2026.This clear statement has finally ended the confusion created by social media rumors.
The explanation came directly from Jameel Ahmad during a media interaction. He shared that although the designs of the new currency notes have already been approved by the federal cabinet, issuing them to the public requires much more than finalizing designs.
Currency printing involves security, testing, and planning. Because of this, releasing the notes before Eid-ul-Fitr 2026 is not feasible.
Behind-the-Scenes Work Still Underway
Even after approval, the State Bank must complete several critical steps:
high-security currency printing
detailed quality and counterfeit checks
step-by-step nationwide circulation planning
These technical stages take months, which makes an Eid 2026 release unrealistic.
What This Means for Existing Pakistani Banknotes
All current Pakistani currency notes remain fully valid and legal.
There is no demonetization plan and no withdrawal notice. Banks will continue providing fresh notes from the existing series before Eid, just as they do every year.
How the Upcoming Currency Will Be Different
Security Improvements in the New Notes
According to the State Bank, the upcoming currency series will include modern, international-standard security features. These changes are designed to help ordinary people, banks, and businesses identify counterfeit notes more easily.
However, no official launch date has been announced yet. The new notes will be introduced gradually once printing and verification are completed.
Economic Signals Shared Alongside the Currency Update
Clearing the Confusion Around Interest Rates
While discussing the currency issue, the SBP Governor also addressed a common misunderstanding.
Lower interest rates do not reduce government spending. Instead, they reduce the profits earned by the State Bank that are transferred to the government.
To explain this clearly, he revealed that the State Bank of Pakistan transferred PKR 2,400 billion to the national treasury in the previous fiscal year. (Source: State Bank of Pakistan)
Why Global Banks Are Looking at Pakistan
Another important update was related to foreign investment. The Governor confirmed that three major international banks have shown interest in opening branches in Pakistan. This reflects growing confidence in the country’s financial system and regulatory framework. The names of the banks were not disclosed.
External Sector Snapshot Shared by the State Bank
Remittances Expected to Stay Strong
The State Bank expects overseas Pakistanis to send around $42 billion in remittances during the current fiscal year. This amount is well above the annual target and plays a key role in supporting Pakistan’s external finances. (Source: State Bank of Pakistan)
Export data shows a mixed picture. Rice exports declined sharply, which pulled down overall export figures. At the same time, non-food exports increased by 5–6 percent, helping offset some of the decline. Government support is expected to help rice exports recover in the coming months.
External Debt Payments Under Control
The State Bank also shared updates on foreign debt obligations. $6 billion has already been paid, while $4 billion more is due in the next five months. According to SBP officials, all payments will be managed smoothly without creating financial pressure.
Changes in Digital Payments and Currency Markets
Moving Toward a Cash-Light Economy
The State Bank plans to digitize 2 million merchants during the current year. This step aims to expand digital payments and reduce reliance on cash transactions across the country.
Stricter Oversight of Exchange Companies
Major reforms have also been introduced in the foreign exchange market. Previously, 166 exchange companies were operating in Pakistan. After regulatory action, only 26 exchange companies are currently authorized. New rules have been enforced to ensure transparency in buying and selling foreign currency.
When the New Currency Is Likely to Appear
Although no final date has been announced, the rollout is expected to happen in phases.
Phase
Expected Period
Completion of formal steps
Mid-2026
High-security printing
Late-2026
Gradual public circulation
Late-2026 to early-2027
Not all denominations will be released at the same time.
FAQs:
Will new currency notes be available on Eid-ul-Fitr 2026?
No. The State Bank has clearly confirmed they will not be issued before Eid.
Yes. The federal cabinet has approved the designs.
Can old currency notes still be used?
Yes. All existing notes remain legal and valid.
Why does currency printing take so long?
Because it involves high-security production, testing, and phased nationwide distribution.
When are the new notes expected to arrive?
Most likely in late 2026 or early 2027, introduced gradually.
Final Words for Eid 2026
There will be no new currency notes this Eid-ul-Fitr. While the designs are approved, printing and circulation are still in progress. At the same time, Pakistan is seeing strong remittances, interest from foreign banks, steady debt management, and rapid growth in digital payments.
For now, Pakistanis should not expect fresh notes on Eid 2026, but the State Bank believes the upcoming redesign will be worth the wait.
