KARACHI – Inflation, economic growth, and the demand for more effective payment methods are among the primary factors behind the decision to adopt greater denomination money. Social media claims suggested that the State Bank of Pakistan is issuing Rs 10,000 banknotes amid the midst of Pakistan’s record-breaking inflation. The central bank provided clarification for the general public as the rumors circulated on various social media platforms. An SBP spokesperson told a local media source that reports of the release of bigger denomination banknotes were untrue and advised the public to be alert.
The scenario led to rumors on Twitter and other social media platforms, where some people refuted the allegations because SBP Governor Yasin Anwar’s name was mentioned on the altered image of the Rs. 1000-note.
The central bank clarified earlier in 2018 rumors of the arrival of new currency notes.